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