Country Cove Park
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Thursday, December 7, 2017
Coming Spring of 2018!
Country Cove Park in Altoona, Iowa will feature 91 builder sites starting at $56,000 and eligible for a 5 year tax abatement*.
For more information or to secure your home-site, contact Jared Johnson at 515-556-0124
*New Residential Construction – all qualified real estate assessed as residential property is eligible to receive a one hundred percent (100%) exception from taxation on the first $75,000.00 of actual value added by the improvements. This exemption is for a period of five years. The lot must be in an approved subdivision, the new home is required to be owner-occupied, and if the property is within a plat approved after December 31, 2006, the lot may be required to have two hardwood trees for tax abatement eligibility.
Example: A new home is assessed at $200,000.00 by the Polk County Assessor. After abatement is applied, the assessment is reduced to $125,000.00 for taxation purposes. The $75,000.00 reduction in assessed valuation is constant for five tax years.
Residential Improvement – A home improvement that increased the property assessment, as determined by the Polk County Assessor, by ten percent or more, that portion of the increased assessment, up to a maximum of $75,000 is eligible for a five-year tax abatement.
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