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Indianola council debates shortening home tax-abatement schedule amid budget concerns
Summary
City Council members weighed shifting the five-year residential tax-abatement to a shorter three-year sliding scale to raise revenue and reduce the city's exposure, directing staff to return with refined models and legal considerations.
Indianola's City Council spent much of its May 4 meeting debating whether to shorten the city's five-year tax abatement for new housing to a three-year sliding scale, with council members split over trade-offs between stimulating development and protecting the general fund.
The council reviewed staff models showing how different scales would affect a typical new home. Staff said the current five-year schedule produces roughly $7,138 in city revenue over five…
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