The City of Cresco adopted a property tax abatement program to encourage new construction and improvements to new and existing properties. The tax abatement is available to residential, multi-residential and commercial property owners within the Cresco city limits to reduce their property taxes. The application must be submitted to the City Clerk and approved by the City Council and the County Assessor.
For projects completed prior to December 31, 2021, please contact City Hall.
For projects completed after January 1, 2022 the expiration Date - December 31, 2026
- New construction of residential, multi-residential or commercial structures
- Rehabilitation and additions to any existing residential, multi-residential or commercial structure
- Actual value must increase at least 10% due to the improvements
- Available on 100 % of the first $75,000 of actual value added
- Exemption Period is 5 years
Multi-Residential Abatements with Three or More Separate Dwelling Units
- Available on 50% of the actual value added
- Exemption Period is 10 years
- Available on 100% of the actual value added
- Exemption Period is 3 years