Sturgis, SD – In November 2010, Meade County Commissioners approved a 5-year, 100% tax abatement on new commercial and industrial construction (or renovation) exceeding $30,000.  The changes to the prior discretionary formula are designed to stimulate commercial development.  Under the new discretionary formula, the full assessed taxes will not be due until the sixth year.  Land taxes remain the same throughout.
Commissioner Doreen Creed said, “It’s very competitive out there right now.  We need to give as much incentive as possible.” Meade County Equalization Director Kirk Chaffee agreed, saying “We’re trying to entice people to build.”
SEDC President Pat Kurtenbach commends the Meade County Commission for their progressive commitment to economic growth, saying, “By implementing this aggressive tax incentive, the Commission has clearly taken the lead in economic recovery efforts.  It is a vital component for our area’s economic toolkit.”
For more info, contact Pat Kurtenbach at 605-347-4906 or info@sturgisdevelopment.com.