Building or remodeling might pay you back!
Property within the Great Bend City limits may be eligible to receive a Property Tax Rebate on the increase in taxes on new construction or property improvements!
REBATE FORMULA
The amount and years of rebate for property located in primary target area:
Year 1 95%
Year 2 95%
Year 3 95%
Year 4 75%
Year 5 75%
Year 6 75%
Year 7 50%
Year 8 50%
Year 9 25%
Year 10 25%The amount and years of rebate for property located in the secondary target area:
Year 1 95%
Year 2 80%
Year 3 60%
Year 4 40%
Year 5 20%For more information contact the City Building Inspection Department at 1205 WIlliams, Great Bend, KS (620) 793-4106
PROCESS
Complete Part I of the application and submit to the Building Inspection Department at 1205 WIlliams. This must be done within 60 days of receiving the building permit.
Part II or Part III must be submitted to the County Appraiser’s Office, Barton County Courthouse, by December 1 of the year the building permit was issued. Part II indicates project is NOT complete.
When project is complete, the County Appraiser will conduct an on-site inspection to determine the new valuation.
If project meets all criteria, the County Treasurer will then be nitified of the tax rebate eligibility.
Upon full payment of property taxes, the tax rebate will begin.
COMMON QUESTIONS & ANSWERS
Q: What property is eligible?
A: All residential property is eligible including accessory structures such as storage buildings and garages. All types of commercial and industrial properties are eligible exept utilities and railroads.
Q: What improvements qualify?
A: Improvements such as new construction, rehabilitation, alterations and additions.
Q: When can I apply?
A: You must apply within 60 days of receiving the building permit. This can be any work day after January 1st, from 8:00am to 5:00pm
Q: Is there cost involved?
A: There is a $15.00 application fee to be submitted with the application
Q: How do I begin?
A: File Part I of the application at the Building Inspection Department while applying for a building permit or within 60 days of receiving the building permit.
Q: How does this rebate affect my current property taxes?
A: It does not affect your current property taxes. You are still required to pay all property taxes but will be rebated a percentage of the increase if the improvement meets the criteria.
Q: What are the criteria?
A: Residential improvements must have a market value of $5,000 or more and the appraised value must increase by 5%.
Commercial and industrial improvments must have a market value of $10,000 or more and the appraised value must increase by 10%.
Improvements must conform with appropriate City codes, regulations and building permit requirements
Property must remain current on property taxes and special assesments.
Property must be zoned appropriatley. For zoning questions call the Inspection Department at 793-4106.
Q: How long is the rebate period?
A: The rebate period is 10 years in the primary target area and 5 years in the secondary target area. See NRA map.
NEIGHBORHOOD REVITALIZATION PLAN
This program is designed to give property owners the opportunity to receive a five or ten year incremental rebate on the additional property taxes that might be incurred as a result of constructing new buildings or making improvements to excisting ones.
If you are building new construction or making improvements on a residential, commercial, or industrial property, the project may be elgible for this tax rebate.
In order for a project to be eligible: A building permit must be obtained from the City Inspection Department.
| NEIGHBORHOOD
REVITALIZATION PLAN |
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TAX
ABATEMENTS EXAMPLE |
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RESIDENTIAL |
Business | ||||||||||
| Market Value | $ 125,000 | $ 150,000 | $ 175,000 | $ 200,000 | $ 225,000 | $ 250,000 | $ 275,000 | $ 300,000 | $ 1,000,000 | ||
| Assessed Value | $ 14,375 | $ 17,250 | $ 20,125 | $ 23,000 | $ 25,875 | $ 28,750 | $ 31,625 | $ 34,500 | $250,000.00 | ||
| Mill Rate | 156.636 | 156.636 | 156.636 | 156.636 | 156.636 | 156.636 | 156.636 | 156.636 | 156.636 | ||
| Total Taxes | $ 2,252 | $ 2,702 | $ 3,152 | $ 3,603 | $ 4,053 | $ 4,503 | $ 4,954 | $ 5,404 | $ 39,159 | ||
| Abatements - Primary Target Area | Taxes Abated |
||||||||||
| Year 1 | 95% | $2,139 | $2,567 | $2,995 | $3,422 | $3,850 | $4,278 | $4,706 | $5,134 | $37,201 | |
| Year 2 | 95% | 2,139 | 2,567 | 2,995 | 3,422 | 3,850 | 4,278 | 4,706 | 5,134 | $37,201 | |
| Year 3 | 95% | 2,139 | 2,567 | 2,995 | 3,422 | 3,850 | 4,278 | 4,706 | 5,134 | $37,201 | |
| Year 4 | 75% | 1,689 | 2,026 | 2,364 | 2,702 | 3,040 | 3,377 | 3,715 | 4,053 | $29,369 | |
| Year 5 | 75% | 1,689 | 2,026 | 2,364 | 2,702 | 3,040 | 3,377 | 3,715 | 4,053 | $29,369 | |
| Year 6 | 75% | 1,689 | 2,026 | 2,364 | 2,702 | 3,040 | 3,377 | 3,715 | 4,053 | $29,369 | |
| Year 7 | 50% | 1,126 | 1,351 | 1,576 | 1,801 | 2,026 | 2,252 | 2,477 | 2,702 | $19,580 | |
| Year 8 | 50% | 1,126 | 1,351 | 1,576 | 1,801 | 2,026 | 2,252 | 2,477 | 2,702 | $19,580 | |
| Year 9 | 25% | 563 | 675 | 788 | 901 | 1,013 | 1,126 | 1,238 | 1,351 | $9,790 | |
| Year 10 | 25% | 563 | 675 | 788 | 901 | 1,013 | 1,126 | 1,238 | 1,351 | $9,790 | |
| Total Taxes Abated | $14,861 | $17,833 | $20,805 | $23,777 | $26,750 | $29,722 | $32,694 | $35,666 | $258,449 | ||
| Abatements - Secondary Target Area | Taxes Abated |
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| Year 1 | 95% | $ 2,139 | $ 2,567 | $ 2,995 | $ 3,422 | $ 3,850 | $ 4,278 | $ 4,706 | $ 5,134 | $ 37,201.05 | |
| Year 2 | 80% | 1,801 | 2,162 | 2,522 | 2,882 | 3,242 | 3,603 | 3,963 | 4,323 | $ 31,327.20 | |
| Year 3 | 60% | 1,351 | 1,621 | 1,891 | 2,162 | 2,432 | 2,702 | 2,972 | 3,242 | $ 23,495.40 | |
| Year 4 | 40% | 901 | 1,081 | 1,261 | 1,441 | 1,621 | 1,801 | 1,981 | 2,162 | $ 15,663.60 | |
| Year 5 | 20% | 450 | 540 | 630 | 721 | 811 | 901 | 991 | 1,081 | $ 7,831.80 | |
| Total Taxes Abated | $ 6,642 | $ 7,971 | $ 9,299 | $ 10,628 | $ 11,956 | $ 13,285 | $ 14,613 | $ 15,942 | $115,519.05 | ||