Des Moines Eyes Adjustment to City Tax Abatement Program
DES MOINES, Iowa - After 28 years, the city of Des Moines' tax abatement program will expire at the end of 2015. Wednesday night, city staff and officials will look over suggestions for changing the program as well as hear input from the public. Right now, new construction for single-family and multi-family housing in targeted areas of town - like downtown, where the city has wanted to see more growth - receive a 10-year, 100 percent tax abatement. Citywide, single-family and multi-family projects get a five-year abatement. Proposed changes to this include reducing the city-wide single-family abatement from 100 percent to a declining-scale system, where home-owners pay 100 to 20 percent of the total tax value over five years.