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Town of Blaine Lake Tax Incentives
Residential Property

 

New Construction of a New Residence:

 

  1. In all cases the land on which the residence is situated will be assessed for taxation.
  2. Taxes will be levied on the residence commencing Jan 1st of the third year following the start of construction (all homes on which construction was started during 2006 will be assessed effective Jan 1st, 2009)
  3. If an existing home is demolished to accommodate the construction of a new residence, an assessment equal to that of the former residence will be used to calculate the taxes to the end of the tax holiday period.

 

Additions:

 

  1. Additions qualify if the increase in assessment is equal to at least 50% of the original assessment.
  2. Taxes will be levied on the addition commencing Jan 1st of the third year following the start of construction.

 

Town of Blaine Lake Tax Incentives on
Commercial Property

 

Construction of a New Business:

 

  1. In all cases the land on which the business is situated will be assessed for taxation.
  2. Taxes will be levied on the business building commencing Jan 1st of the third year following the start of construction (if a building started construction in 2006, it would be assessed effective Jan 1st, 2009.)
  3. If an existing commercial building is demolished to accommodate the construction of a new commercial building, an assessment equal to that of the former building will be used to calculate the taxes to the end of the tax holiday period.

Additions:

 

  1. Additions qualify if the increase in assessment is equal to at least 50% of the original assessment.
  2. Taxes will be levied on the addition commencing Jan 1st of the third year following the start of construction.

Infilling of Existing Buildings:

 

  • Businesses that occupy existing buildings that have been vacant for a minimum period of 12 months, will quality for the reductions in taxes as follows:
    • 75% in the first year of operation
    • 50% in the second year of operation
    • 25% in the third year of operation

 

Also See: Blaine Lake Economic Development Cooperative