Tax abatement for Toppling Goliath gets final approval

The Decorah City Council Monday night approved two readings of an ordinance giving a tax abatement for Toppling Goliath's planned 20,000 square foot brewery in the Decorah Business Park.

The unanimous vote Monday night set into effect five years of lower property taxes for the new brewery.  It means the brewery will pay 20 percent of its property tax increase in the first year; 30 percent the next year; 40 percent the third year; 50 percent the fourth year and 60 percent the fifth year before paying 100 percent in the sixth year and beyond.

The property is expected to have an assessed value of $4.5 million, so Toppling Goliath will still pay a total of at least $335,000 in property taxes on the brewery during the five-year period. 

Toppling Goliath's new brewery will more than double its current beer production capacity.  The company hopes to begin building this fall with completion in June of next year.