Property owners, contractors, and developers with interest in Muscatine real estate have several programs available through the City of Muscatine to assist with new construction, renovations to existing buildings, or expansions to existing facilities.
Urban revitalization, or tax abatement, is one of those tools that is available to encourage economic development in the designated Urban Renewal Area of the city. Supported by provisions of Chapter 403 of the Code of Iowa, Muscatine’s Urban Renewal Plan seeks to encourage and stimulate new residential, commercial, and industrial development through the temporary reduction of property taxes on added value to properties.
Tax abatement is a tool used by local governments to stimulate investment in designated areas by temporarily reducing or eliminating property taxes on certain eligible pieces of real estate including new and renovated homes and commercial buildings.
Stimulating investment by encouraging new construction and renovation to existing homes is one of the…
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