Winneshiek County businesses are getting some reduction in their property taxes

Over 600 Winneshiek County businesses will save $411,421 on their property taxes this year because of the Iowa Legislature's passage of the largest property tax cut in Iowa history.  A key goal of the bipartisan legislation was encouraging new jobs and business growth by reducing taxes on commercial properties, which have been taxed at about twice the rate of residential properties.

When fully phased in, two-thirds of Iowa commercial properties will have their taxes reduced to the same rate as residential properties.  The legislation created a rollback on commercial property of 95 percent for the 2013 assessment year and 90 percent for assessment year 2014 and beyond.  

On a separate matter, Winneshiek County Assessor Jim Alstad says his office has mailed out applications for business property tax credits with return envelopes to make sign up for the tax credit easier.  About 95 percent of those businesses which were mailed the property tax credit application have returned them, says Alstad.