A shortage of housing in Charles City is being felt “across the board.â€Â
That’s City Administrator Steve Diers, who says the City wants efforts to increase the housing stock to include a tax abatement program.
The proposed tax abatement program would abate taxes for 10 years on the construction of new housing in City limits, but also afford the same deferral for owners who enhance the valuation of their existing home or residential property by at least 10%.
During a public hearing at the December 18th City Council meeting, Mayor Dean Andrews said the program will allow the City to keep pace with the rest of the state in attracting builders.
Andrews also explained that the program does not mean an increase in the property taxes to pay for the abated taxes.
The City Council tentatively approved the tax abatement program, with the official final vote expected at their January 17th meeting.
