Tax Abatement Application Form

2. TAX ABATEMENT APPLICATION FORM

   City of Storm Lake, Iowa Revitalization Program is authorized under Iowa Code Chapter 404 and as adopted by the City's Urban Revitalization Program.

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4. Need more information? Scan this QR Code!
   
6. Tax exemptions are allowed as follows:
   Residential Housing- Maximum five (5) year exemption of 100% on the first $75,000 of actual value added.~ Commercial Property- Maximum three (3) year exemption of 50% on the actual value added.~ Multi- Residential-10 year 100%~ NOTE: Minimum 20% increase on actual value required.
7. For more information visit: www.stormlake.org/taxabatement

   1. Prior Approval for intended improvements
   2. Approval of improvements completed
9. Property Address: *
   Street, City, State, Zip Code
10. Property ID Number (PIN):
12. Legal Description:
14. Property Owner Name:*
15. Owner Email:
17. Phone Number:*
18. Owner Address (if different that above):
    Street, City, State, Zip Code
20. Will this property be a rental?*

    1. Yes
    2. No
21. Is there is a tenant on the property who has occupied the dwelling unit for at least 1 year prior to date of adoption of the plan (4-4-2005) AND will be displaced by the proposed improvements?*

    1. Yes
    2. No
23. What is the existing use of the property?*

    (Choose One)

    1. Residential
    2. Commercial
    3. Multi-Residential

    1. Industrial
    2. Vacant
24. What is the PROPOSED use of the property? *

    (Choose one)

    1. Residential
    2. Commercial
    3. Multi-Residential

    1. Industrial
    2. Vacant
26. What is the nature of the improvements being completed?*

    1. New Construction

    1. Addition

    1. General Improvements
28. Describe Improvements:*
30. Estimated or actual date of completion:*
    Estimated or actual date of completion:

    Estimated or actual date of completion:
31. Estimated cost of improvements:*
32. Note:
    For complete details regarding eligibility & requirements see the Urban Revitalization Plan (4-4-2005) and amendment #1 (2014) and Ordinance.
34. Tax Abatement is NOT allowed in any current or future Urban Renewal Area within the City limits of the City of Storm Lake. Your application for Tax Abatement must be filed with the City of Storm Lake by February 1st of the assessment year for which the exemption is first claimed but in no case not later than two (2) years after the February 1st following the year that the improvements are first assessed for taxation. Your project must be completed so that the first full assessment is not later than January 1, 2024. Your signature below indicates your understanding of the City of Storm Lake Urban Revitalization Program and authorizes your desire to apply for tax abatement on this property provided that it qualifies under the terms of the program. Please attach the approved building permit to your application.
36. Signature*
37. Date*
    Date
39. Title
40. Company
42. City of Storm Lake Building Official ~ 620 Erie Street ~ Storm Lake, IA 50588 ~ 712-732-8002
44. 
Leave This Blank:


46. 1. Receive an email copy of this form.
47. Email address

    This field is not part of the form submission.

48. Submit

* indicates a required field