The City of Carroll is offering housing incentive programs to encourage building within the city limits of Carroll. The first housing incentive program, the City’s Infill Housing Incentive Program, started on August 1, 2022.
The Infill Housing Incentive Program provides a $20,000 incentive for new home structures completed by September 1, 2026 (as long as funding is available). The City is using Federal ARPA Funds for this program. A few of the key program rules are:
Full details and application are available in the following links.
The Carroll Community Banks (Availa Bank, Commercial Savings Bank, Iowa Savings Bank, United Bank of Iowa, and Westside State Bank) have joined forces to create a housing fund to help reduce the risk of speculative home construction in Carroll. Learn more about this program using this link.
The City of Carroll also offers tax abatement on the first seventy-five thousand dollars ($75,000) of actual value added per living quarter by the Improvements for a period of five (5) years. What does this mean to you? If a residential construction project results in increasing the assessed value of your property by at least 10% and $75,000, you will receive the full tax abatement for 5 years. While the value of the abatement will vary based on tax rates and rollback percentages, based on the FY 2023 rollback of 54.1302% and the FY 2022 consolidated tax rate of $26.40, a property owner would save $5,358.89 over 5 years in property taxes. You can find out more on tax abatement using this link.