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Residential New Construction Tax Abatement Program

Application Process

The City of Stuart has approved and adopted an Urban Revitalization Plan.  The Plan establishes property tax exemptions (tax abatement) for residential new construction.

Eligible properties include real property located within Stuart city limits, excluding properties located in Wambold Phase I, II, and III housing developments, as well as the All Saints Addition.

The tax exemption is a five-year, 75% tax abatement on the first $75,000 of actual value added by the eligible improvements.  The increase in actual value of the property must be at least 10%.

Applications must be mailed or dropped off at City Hall, located at 119 E Front Street, Stuart, IA 50250, to the attention of Matt Funk, Economic Development Director.

The application deadline is February 1st of the assessment year for which the exemption is first claimed.

The tax abatement is not automatic and must be applied for and approved by the City Council AND the Adair or Guthrie County Assessor’s Office. However, only one application is necessary.

Received applications will be presented to the City Council for approval.  If approved, the application will then be forwarded to the Adair or Guthrie County Assessor.

The County Assessor will make the final determination about the increase in value and tax savings added by the improvements and ultimately approve or deny the application.

After the initial tax exemption is granted, the property owner(s) won’t have to file an application for subsequent years.  The County Assessor will grant the tax exemption for the duration of five-year residential abatement.

Program Documents

Contact for Additional Information

Matt Funk
Phone:   515-523-1455
Fax:   515-523-2578

119 E Front Street
Stuart, IA 50250

Monday – Friday
8:00am – 4:30pm