HOISINGTON, Kansas – It’s an effort to improve Hoisington from the ground up.
“The ultimate goal is to provide incentives for development, so maybe we could incite new development or redevelopment in our community,” said City Manager Jonathan Mitchell.
Local leaders have approved renewing a plan, that was first adopted in 2007, that gives tax breaks to people who build new, or remodel their homes. The renewal would extend that project until 2020. City officials say that the tax break won’t hurt their revenue, because the tax break only kicks in on the improvements.
“If it is an increase of five thousand dollars and it raises your evaluation by more than five percent of the property value, that new increment of tax is rebated. The existing base is not affected by this” says Mitchell.
The plan has to be approved by all taxing entities in Hoisington including the school district, which has shown its support.
“I think it’s a great tool, and I don’t really see a lot of resistance between the other entities that need to approve this extension,” said USD 431 Superintendant Bill Lowry
Hoisington residents say it’s a program that will help beautify the city.
If it’s given final approval from the other taxing authorities, the tax rebates will be available May 1st.