While Minnehaha County is bracing for a property tax opt-out and the SF city council recently increased property taxes to most properties in Sioux Falls, with the stroke of a few votes the city council gave a 12 year, $2.9 million dollar property tax rebate for some condos;
The $30-million, mixed-use Washington Square project planned for Main Avenue has been granted a TIF by the City of Sioux Falls.
The city council approved a $2.9-million tax increment financing district for the project. The property tax revenue will be used to pay the TIF over a 10 to 12 year period.
But hey, we get to use their parking for free, only on nights and weekends though (you know, when it is free in all other spots DT also). Once again, the ones with the biggest wallets get the biggest rewards in Sioux Falls, while the rest of us working stiff homeowners have to scrape up the crumbs that fall from the 4th floor condos.