Eligibility
All areas/properties within Lead city limits.
Threshold Value
Minimum assessed work must total greater than $5000.00 of value added to the property.
NOTE: The assessed value is NOT the value of the building permit. The assessed value will be determined by the Lawrence County Equalization Office.
Period
The building permit for the work must be issued after October 31, 2009 and before October 31, 2010 (defined as the Property Tax Year). The building permit must be issued by the Building Official for the City of Lead. The work described in the building permit may be continued after the October 31, 2010 deadline and still be eligible for the tax incentive.
Tax Incentive (based on added assessed value of improvements and/or additions)
20% of added value
40% of added value
60% of added value
80% of added value
100% of added value
Year 1
Year 2
Year 3
Year 4
Year 5
Details
- Eligible work includes all work to improve the structure, to include, but not limited to, foundations, outside walls, decks, driveways, garages, framing, new walls, remodeling, fixtures, roofs, painting, carpet and flooring.
- Ineligible work includes, but is not limited to, landscaping, fences, retaining walls and gardens.
- All eligible work must be listed on the Building Permit issued by the Building Inspector of the city of Lead.
- All eligible work will be assessed by the Lawrence County Equalization and will not be based on the Building Permit value.
Additional Assistance
Dennis Schumacher - City of Lead Building Inspector
Lawrence County Equalization
(605)584-1617
(605)578-3680
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