Tax Abatement Available

On April 20, 2017 the Van Meter City Council adopted Resolution 2017-20 which approved and adopted an Urban Revitalization Plan. At the same meeting the City Council adopted Ordinance 257 which designated all real property contained within the incorporated limits of the City of Van Meter, as of April 1, 2017, to be within the City’s Urban Revitalization Area.

The Plan establishes property tax exemptions (tax abatement) for new value added across all property classifications as a result of renovations, additions, or new construction. The abatement is offered according to the following schedules:

For commercial and industrial property the abatement applies for 3 years at 100%.

For residential property (single or multi-family) the abatement applies for 5 years as follows: Year 1 – 100%, Year 2 – 100%, Year 3 – 100%, Year 4 – 75%, Year 5 – 50%.

It is important to note and understand:

1) Improvements must increase the actual value of the property by at least 15%.

2) The abatement is not automatic. It must be applied for and granted by BOTH the City Council AND the Dallas County Assessor’s Office. However, only one application is necessary. After approval, the City will forward the application to the County Assessor.

3) An application must be submitted to City Hall prior to February 1 of the assessment year for which the abatement is first claimed.

4) Valuation cannot be removed from the County’s assessment of a property AND property taxes must always be paid against the existing assessed value of a property. So get your application filed early when starting a project.

You can access the full text of the Urban Revitalization Plan here along with the application here.

Urban Revitalization Plan

Tax Abatement Application

If you have questions please call City Hall at (515) 996-2644.