Huron City Commissioners have unanimously approved final reading of an ordinance that designates the west half of the Lake Heights Addition as a Redevelopment Neighborhood
The ordinance allows for a tax break according to the property tax discretionary formula which is similar to the formula adopted by Beadle County and used for the Southtown Addition.
The Southtown Addition discretionary formula provides that a new residential structure would pay taxes for the first year at 20%, and on to 40%, 60% and 80% the following years, and would pay the full amount of taxes on the 5th year.
Danny Hofer who requested the change believes the tax break will lead to more homes being built in the area and help pay for the construction of a street to be named North Circle Drive. Hofer says there are currently 13 lots available for sale in Ravine Lake Heights with 13 more to be available upon construction of North Circle Drive.