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The original item was published from 1/16/2019 11:16:33 AM to 1/16/2019 11:45:07 AM.

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Posted on: January 16, 2019

[ARCHIVED] Tax Abatement applications due Feb 1 by 5 PM

RESIDENTIAL TAX ABATEMENT APPLICATIONS DUE FEBRUARY 1

What is the Tax Abatement Program?

Tax abatement is a program used to encourage and stimulate rehabilitation of existing and new housing. The City of Marshalltown has enacted into law the Urban Revitalization Act.  Under this Act, qualified residential real estate may be eligible to receive a total exemption from property taxes for improvements for three years, or a sliding tax exemption for either five or ten year schedule.  This program is referred to as the Tax Abatement Program.


What improvement qualifies for residential tax abatement?

Improvements resulting in an increase of actual assessed value by at least 10% qualify for tax abatements for the following:

  1. New construction of residential buildings
  2. Rehabilitation of residential buildings
  3. Additions to existing residential buildings. 


What information is required for the application?

Information required for the application include: Name of property owner, address, phone number, legal description of property, nature and cost of improvements, estimated or actual date of completion and building permit number. You are not eligible for a Residential Tax Abatement unless you had an approved building permit for the improvement. Maintenance and repair of homes, such as replacement windows and siding are not a qualified improvement under the Tax Abatement program.


Who determines the tax abatement benefit?

All applications are approved by the City Council after the February 1 deadline and forwarded to the County Assessor’s office for review and determination of actual assessed valuation.


When and where can I apply?

Applications must be submitted to the City Clerk’s office by February 1st of the assessment year for which the exemption is first claimed, but not later than February 1 of the third year following the year in which the building permit was issued for the improvement; for example, the building permit must be dated after February 1, 2016, in order to be eligible for the February 1, 2019, filing deadline.  There is a $50.00 filing fee for each tax abatement application.  Multiple Residential units are charged $50.00 per residential unit. (Single dwelling house-$50; Duplex-$100; Triplex-$150).


For more information about residential tax abatements, please contact the City Clerk’s office at 754-5701 or by email clerk@marshalltown-ia.us

  Applications for this program are available at the City Clerk’s office, 24 North Center Street or can be downloaded from the city’s web site

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