Commercial Property Tax Abatement
The following information is specific to commercial property and the City of Storm Lake Urban Revitalization Plan. If you are looking for information on how the plan impactsresidential or muti-residential properties please see the other available links available from the Tax Abatement home page.
Commercial Specific Exemption
Commercial properties, as designated by their tax classification are eligible for the following abatement schedule:
Exemption is a 50% abatement on the actual value of the improvements for a period of three (3) years.
Property and property owner must meet all the qualifications and regulations of the program.