If a recommendation by the Economic Development and Community Betterment Committee is approved by the Decorah City council later in November, the residential tax abatement program in Decorah will continue for another three years.
Committee members have taken no formal vote, but reached agreement that the program ought to be continued–with one important change. In the previous three years, new houses or housing additions with up to $400,000 in assessed valuations would qualify for the program. The committee’s recommendation is to drop the $400,000 cap.
The Decorah Planning & Zoning Commission earlier this year recommended lowering the cap to $200,000 in valuations because of concerns the program had not created more affordable housing, which was its initial goal. However, city officials say the program has been a good way to encourage economic development within the city.
The following article was originally printed on Tuesday, Nov. 7th – Reposted with permission of DecorahNews.com