Friday, October 30, 2009

Neighborhood Revitalization Program Has Positive Impact

Since the Neighborhood Revitalization Program was adopted county-wide nearly $19 million in construction projects have been approved in Mitchell County, KS.

The program was adopted county-wide in October 2006. It offers an incentives to both home owners and businesses to make improvements to their properties, build additions and construct new buildings. The incentive is a tax "rebate" based on the increase in the value of the proprety after the improvement is made.

Local taxing entitites also say they like the program because it does not take away any existing tax revenues. For example if the taxes on a property are $1,000 per year and you put up a new building that increases the taxes by $1,000. The local taxing entities will still receive the $1,000 in taxes. What they "rebate" is based on the additional $1,000 that was added to the tax value of the property.


A property owner can receive a rebate up to 95% on improvements made to their home or commercial building. It can also be applied to new construction. The 95% rebate is good for 3 years. On the 4th year it drops to 80%, the 5th year 70% and so on for a total of 10 years in the Neighborhood Revitalization Program.

Applications for the program are available at the Mitchell County Appraisers office. They must be completed and approved by the county commissioners before any work can begin. The project must increase the value of the property at least $10,000 and it should be completed within a year.

Once the work is completed you will also need to complete a form to notify the Appraisers office the project is finished. So they can inspect it again and set the new property value.


It is important to note. This is not a tax abatement program. It is a rebate and the property owner is responsible for paying the "full amount" of the taxes including the new, increased portion. After receiving the payment the county will figure the amount that is to be rebated and return 95% .



Local taxing entities participating in the program include Mitchell County, the cities of Beloit, Glen Elder, Cawker City, Tipton, USD 273 and USD 272.

For more information on the program call 785-738-2717 or 785-569-1465.