City expands revitalization zones

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News

May 15, 2012 - 12:00 AM

Iolans looking to increase the value of their properties may soon have an attractive enticement by the city.

Iola City Council members approved expanding a neighborhood revitalization program to cover the entire city, meaning anyone who improves the appraised values of their property by at least $5,000 will be reimbursed the difference in cost of higher property taxes they would pay as a result.

The city formerly had the revitalization plan in place only along selected areas, including along U.S. 54, State Street and in other select neighborhoods around town considered to have an abundance of “blighted” properties.

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