With a neighborhood revitalization program set to expire this year, the city of Parsons is looking to push for greater tax relief for owners who improve their property.
The city now has two neighborhood revitalization programs. One was recently approved for the northern part of the city in the area of the junction of U.S. 400 and U.S. 59 (North 16th Street) and pertains to commercial development only. The other, older program set to expire in October allows both commercial and residential property owners in a specific area to get 90 percent tax rebates on additional property tax brought by an increase in valuation caused by improvements. The program is an incentive to encourage people to build new structures or add to existing structures by giving them tax relief for the first five years so that the city benefits from the added valuation in the future.
During a city commission meeting Monday evening, City Manager Debbie Lamb said Feb. 5 is the date set in the program agreement with other taxing entities to begin discussion of extending the program. The other taxing entities include Labette County, Parsons USD 503 and Labette Community College.
The program usually is extended for five years at a time, but Lamb said city staff has discussed pushing the program to 10 years of tax rebates, or at least seven or eight. The city also may consider broadening the program’s range, although it covers most of the city already.
(Read more: Parsons Sun)