Deadwood City Commissioners are currently looking into tax incentives to spark economic development in the city, reports the Black Hills Pioneer. At a recent city commission meeting, commissioners discussed the possibility of a housing incentive plan that would implement a tax rebate for single-, two- and multi-family dwellings. The rebate would not apply to hotels or other forms of temporary or vacation lodging.
The proposed rebate would last for five years. Rebates would be calculated by dividing the valuation of the property by $1,000 and then multiplied by the Deadwood city levy.
Commissioner Gary Todd expressed concerns about the tax rebate benefitting non-residents of Deadwood. Planning and Zoning Administrator Bob Nelson responded that his staff often find potential buyers online or receive complaints from neighbors when properties are not purchased by full-time residents.
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