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| Mayor Deb Higgins talks about the initiative for vacant commercial and industrial lands to have a mill rate factor 2.5 times higher than developed commercial and industrial property at the April 7, 2014 council meeting. Times-Herald photo by Lisa Goudy |
Vacant commercial and industrial lands are defined as “strictly vacant, empty land,” according to Brian Acker, director of financial services.
“Vacant commercial and industrial land is land that doesn’t have any improvements on it,” he said. “If there are improvements on it of any kind, then it’s not considered that … An example of that would be land that is used for a parking lot that has parking lot improvements in terms of pavement and parking stalls, that sort of thing, that’s classified as something different. So that is not vacant.”
Vacant commercial and industrial lands will see a mill rate factor 2.5 times higher than developed commercial and industrial property as of Monday’s council meeting. Acker estimated it will generate $260,000 in revenue to the city and that money will be reallocated to help develop commercial and industrial land.
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