Tax abatement is a reduction in the property taxes which would otherwise be payable on the actual value added to a property due to qualified improvement. The reduction only applies to the additional taxes resulting from the increase in assessed value of the property due to the improvement. Under urban revitalization the taxes relating to the assessed value of the property prior to the improvement cannot be reduced and will continue unabated.
How do I apply for tax abatement?
Application forms can be obtained in the City Clerk's office at 220 South Market Street or online. It takes five to ten minutes to fill out. Information requested on the form includes:
Owner's address and phone number
Legal description of the property (available at the Mahaska County Assessor's office)
Description of the improvements, including cost and completion date
Owner's signature and date signed
Applications must be completed by the homeowner. Applications are accepted only January 1st through February 1st each year.