The City of Monticello, Iowa
IN THE NAME AND BY THE AUTHORITY OF THE CITY OF MONTICELLO, IOWA
RESOLUTION #18-71
Resolution approving Lloyd Welter Tax Abatement on Residential
property located at 412, 414, and 416 N. Maple Street
WHEREAS, The Chapter 10 of the Monticello Code of Ordinances provides for tax abatements on Commercial/Industrial improvements and Single Family Residential improvements, and
WHEREAS, The Code does not specify a time frame within which property owners must apply for the abatement to be considered eligible for the full five year abatement period, and
WHEREAS, The Jones County Assessor, and City staff, have traditionally allowed for a one year grace period during which a qualified applicant must apply for the abatement and be found eligible to avoid losing a portion of the abatement, and
WHEREAS, The Council has been presented with a request from Lloyd Welter to grant the full five year abatement on property constructed by Welter located at 412, 414, and 416 N. Maple Street even though the one year grace period has passed, based upon the fact that he did timely apply, the City did approve, and it was only after the Jones County Assessor determined that the condo units were not legally converted from multi-family residential to single family residential units by way of the horizontal property regime paperwork filed on Welter’s behalf that the abatement was denied, and
WHEREAS, The properties are now included in the horizontal property regime and taxed as individual residential units making them eligible for the abatement, and
WHEREAS, The Council finds, based upon the above information, that Mr. Welter should be granted the full five year abatement, to commence from this point forward, with $75,000 of value per unit being abated for a period of five years as authorized by the Code.
NOW, THEREFORE, BE IT RESOLVED that the City Council of Monticello, Iowa does hereby approve the full five year residential tax abatement as provided for within Chapter 10 of the Monticello Code for Lloyd Welter, with the first $75,000 of new value added per unit being abated for a period of five (5) years.
IN TESTIMONY WHEREOF, I have hereunto subscribed my name and caused the Great Seal of the City of Monticello, Iowa to be affixed hereto. Done this 18th Day of June, 2018.
Attest: Brian Wolken, Mayor
Sally Hinrichsen, Monticello City Clerk