Town of Blaine Lake Tax Incentives
Residential Property
New Construction of a New Residence:
- In all cases the land on which the residence is situated will be assessed for taxation.
- Taxes will be levied on the residence commencing Jan 1st of the third year following the start of construction
- 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:
- Additions qualify if the increase in assessment is equal to at least 50% of the original assessment.
- 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:
- In all cases the land on which the business is situated will be assessed for taxation.
- Taxes will be levied on the business building commencing Jan 1st of the third year following the start of construction
- 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:
- Additions qualify if the increase in assessment is equal to at least 50% of the original assessment.
- 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