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Canceled rebate program short $76K
by Gregory R. Norfleet · News · April 24, 2024
The Building Incentive Rebate Program that the West Branch City Council canceled last month needed just under $76,000 to fulfill its promises to 30 homeowners.
According to City Finance Director Heidi Van Auken, some of those 30 residents are still eligible for reimbursements if they file proof of property tax payments by June 30.
Families that still file for a rebate before that date are not included in the above number.
The rebate program promised up to $5,000 in rebates — at a rate of up to $1,000 per year — for new homes built between May 4, 2015, and June 30, 2021. However, city administration asked the council to end the program early citing budget constraints.
Van Auken notes that some residents would not get the full $5,000 for one of three reasons: “1) they did not submit a timely reimbursement request for a certain tax year, or 2) the transfer limitation applies 3) and/or the year limitation applies.”
City Councilmember Mike Horihan at a recent meeting asked city staff to investigate holdover funds — savings — as a way to pay off the remaining money.
The building incentive program “spurred 123 new dwellings” — single-family homes and zero-lot-line homes — since its inception, according to the city.
Some 73 families filed for the rebate and 30 would be cut off from receiving the reimbursement if the council chooses to not restart the program.
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