Residential Property Tax Abatement
The following information is specific to residential property and the City of Storm Lake Urban Revitalization Plan. If you are looking for information on how the plan impacts commercial or muti-residential properties please see the other available links available from the Tax Abatement home page.
Residential Specific Exemption
Residential properties, as designated by their tax classification, are eligible for the following abatement schedule:
Exemption is a 100% abatement on the first $75,000 of actual value added for a period of five (5) years.
Property and property owner must meet all the qualifications and regulations of the program.