In many cities and towns around the country, governments are making harder to build new housing. But in one Iowa town, new single-family housing is a priority, reports Business Record's Kent Darr.
City officials in Perry hope a new residential tax abatement program will resuscitate demand for new homes.
The program offers a 100 percent abatement of property taxes for five years, then hits a sliding scale in years six through 10 that bottoms out at 15 percent.
In fact, only one permit has been issued for a single family home in Perry since 2010. But that could soon change, reports Darr.
In addition, the city is in the process of annexing about 160 acres for a new, higher-end housing development and two multifamily projects are under construction.