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Monday, June 17, 2024

Public hearing for tax abatement set for Tuesday night

The Windom city council recently approved a public hearing set for Tuesday evening at 6:30 in the city hall council chambers to consider a proposed tax abatement for a new home to be built on property at 705 Plum Avenue by Borsgard Construction.

The city is allowed to consider abatements on homes valued at $320,000 or less.
The abatement would relieve the property of taxes for up to five years.

EDA Director Tiffany Lamb reported that based on current market values and tax rates, the total estimated abatement and taxes relinquished for the city of Windom would be approximately $9,220.

The home is proposed for the new South Cottonwood Lake housing development area, and Lamb informed that abatements are sometimes given by taxing agencies to homebuilders in an effort to spur growth and development.

For more details and news, please see the May 16 edition of the Citizen.



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