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02/19/2009
DAKOTA VALLEY AREA CONTINUES TO GROW
Dakota Valley Area Continues to Grow While Providing Outstanding Tax Climate
The Dakota Valley Business Council (DVBC) announced today that the Dakota Valley area, consisting of the South Dakota communities of North Sioux City and Dakota Dunes, continues to experience significant growth which has resulted in lower mill levies for residential and commercial property owners.
According to data provided by Union County officials, the combined 2008 assessed property values in North Sioux City and Dakota Dunes totaled slightly under $470 million, an increase of over $31 million from 2007. The Dakota Valley area accounted for approximately 34% of the total assessed values for all of Union County.
In addition, Dakota Dunes and North Sioux City were the only two communities in southern Union County to see their overall tax bill go lower in 2008 compared to 2007. The total tax levy for residential properties in North Sioux City and Dakota Dunes is $17.68 and $18.46 per $1,000 valuation, respectively. The total tax levy for commercial properties in North Sioux City and Dakota Dunes is $23.29 and $24.07 per $1000 valuation, respectively. Both communities also offer graduated five-year property tax abatement for new commercial and industrial buildings.
“The growth in business investment in the Dakota Valley area is great for business and provides our Dakota Valley Business Council members a stable property tax environment for their business to operate and grow”, stated Greg Miner, Dakota Valley Business Council President. “This property tax reduction enhances South Dakota’s top business climate which has no state income tax, no personal property tax, no business inventory tax and no inheritance tax.”
The DVBC, formed in the early 1990s, is a consortium of business people working on local and state business and legislative issues as a means of improving the business climate in North Sioux City and Dakota Dunes.
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