Urban Revitalization Programs

Urban Revitalization Programs

The City of Clinton offers several Tax Abatement incentives for renovating homes, building new homes, multi-residential and commercial renovations and new commercial construction:

1. City-Wide Residential Urban Revitalization

The City has a City-wide Urban Revitalization Program for residential housing. Eligible projects can result in up to $75,000 of added assessed valuation being 100% exempt from taxation for a period of 5 years (State Code maximum). 

With respect to any of the exemption schedules, if the qualified real estate is assessed as residential (including single and multi-family), then the exemption from taxation shall not apply to property tax levies imposed by a school district for applications submitted on or after July 1, 2024, as and to the extent required by Iowa Code Section 404.3D.

2. Blighted Residential Urban Revitalization

In blighted areas of the City, eligible projects for residential properties can result in all added assessed valuation being 100% exempt from taxation for a period of 10 years. 

With respect to any of the exemption schedules, if the qualified real estate is assessed as residential (including single and multi-family), then the exemption from taxation shall not apply to property tax levies imposed by a school district for applications submitted on or after July 1, 2024, as and to the extent required by Iowa Code Section 404.3D.

Blighted areas maps: 

3. City-Wide Multi-residential Urban Revitalization

The City has a City-wide Multi-Residential Urban Revitalization Program for multi-residential housing units. Eligible projects can result in all added assessed valuation being 100% exempt from taxation for a period of 10 years. 

With respect to any of the exemption schedules, if the qualified real estate is assessed as residential (including single and multi-family), then the exemption from taxation shall not apply to property tax levies imposed by a school district for applications submitted on or after July 1, 2024, as and to the extent required by Iowa Code Section 404.3D.

4. Commercial Revitalization Program (Select Areas)

The City has select Commercial Revitalization Program areas where eligible projects can result in all added assessed valuation being 100% exempt from taxation for a period of 3 years. The select areas include: Downtown River Lyons Urban Revitalization Area, Liberty Avenue - Block A Urban Revitalization Area, Lyons Business and Technology Park Urban Revitalization Area, and Manufacturing Meadows Urban Revitalization Area. 

Qualifications 

Eligible projects must include qualified improvements. The actual assessed value of the property must increase by at least 5% for properties assessed as residential. The actual assessed value of the property must increase by at least 10% for properties assessed as commercial, industrial, or properties that are assessed as residential with 3 or more separate dwelling units. 

Pursuant to legislation passed in 2023, a minimum assessment agreement with the City must be agreed upon before commercial projects are eligible for tax abatement and participation in the Urban Revitalization Program. 

Application

To ensure timely processing, applicants are encouraged to submit applications no later than December 31st of each year to the Building and Neighborhood Services Department, together with the $25 application fee. Applications must be submitted no later than January of each year in order to be processed. Applications are subject to Council approval and County Assessor processing.