Sep 30, 2024 - News
Property taxes are due today, but thousands of residents will get breaks
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Property taxes are due Monday, but nearly $1.2 billion worth of property in Des Moines will be getting a break through the city's tax abatement program.
Why it matters: The program attracts development and incentivizes developers to enhance properties with features like EV charging stations.
By the numbers: As of Jan 1, 2023, nearly $1.2 billion of property values in DSM were participating, nearly double the level in 2016.
- That broke down to over 5,500 multifamily homes (3+ units) and nearly 4,000 one- and two-family homes, according to city data.
What we're watching: DSM regularly tinkers with the program as markets and neighborhoods change and is reviewing it again.
- City staff will return to the council with recommended changes to the program early next year, city manager Scott Sanders told the Council this month.