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Ten Projects Receive Tax Abatements In Lake View In 2016

The City of Lake View is continuing their nearly 20 year program of tax abatements after making the final approval of the cuts Monday for projects completed in 2016. The Urban Revitalization Plan allows for reduced taxes on construction ranging from home additions to entirely new structures. City Administrator, Scott Peterson, says the project has been around for quite some time.

The plan aims to encourage community growth and improvement. The changes improve the city visually, and increase the potential income of the city by having a larger taxable value.

The city reduced taxes on those projecst by $3,674 in total. Once the abatements have ended, the city now has the potential to increase yearly tax income by $8,500.

 

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