Home improvement tax breaks available for Sioux City homeowners

SIOUX CITY | Local property owners who improve the value of residential properties will be eligible for partial tax exemptions until Dec. 31, 2020.

The Urban Revitalization Tax Exemption rewards property owners for increasing the value of their property through physical improvements. Anyone who owns residential property in Sioux City is eligible for the program.

Various exemption schedules are available to homeowners who have made qualifying improvements, lasting up to 10 years on up to 115 percent of the property's increased value.

Improvements must add "lasting value" to the property, through major remodeling projects and additions.

These include "building a new garage, finishing an unfinished basement, an addition to the house, finishing any unfinished space, sometimes siding and windows things like that," said Neighborhood Services Project Coordinator Amy Keairns.

Applications for the exemption must be filed during the year the improvements were made. If homeowners made improvements during 2014, they can apply until Dec. 31.

Applications and additional information can be found at Room 305 on the third floor of City Hall, or onSioux City's Neighborhood Services website.

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Home improvement tax breaks available for Sioux City homeowners