Community Consideration: Property Taxes
Primary local-government benefit: new taxable value — and under Iowa's revenue caps, new construction is fiscal capacity.
One 280,000 SF building
Estimated taxable value: 280,000 SF × $400/SF = $112M
$2.49M-$3.24M
$15M-$19M
per year
gross property taxes / year before TIF, abatement, exemption, or incentive terms
Unincorporated $2.49M/yr
If six buildings are built
LI NN COUNTY
2
That scale explains why tax-base questions belong in the community-benefit discussion.
3 No growth means pressure
Existing base is capped
Most general levy growth is roughly limited to 2%.
New growth is the engine
New valuation/construction remains outside the cap.
No growth means pressure
If costs rise faster than 2%, service capacity shrinks over time.
Where one incorporated building tax dollar goes
$3.24M/year gross tax estimate for one 280,000 SF building
1
from one campus, before incentive-specific terms
Incorporated $3.24M/yr
Why new construction matters now