The City of Perry is dedicated to encouraging the growth of businesses in Perry. Perry primarily uses property tax-based financial assistance to support businesses and developers building and expanding within our community, because incentives attract and promote investment and employment in the Perry. Incentive packages are generally considered on a case-by-case basis and are designed to meet the needs of businesses locating or expanding in the City of Perry.
For more information on City incentives, contact: Sven Peterson City Administrator City of Perry P 515-465-2481
Tax Increment Financing
The City of Perry uses Tax Increment Financing (TIF) by capturing a portion of the increased tax revenue created by improvements that result in new taxable property valuation. The new revenue may be redirected to reduce the cost of infrastructure improvements or as a tax rebate to a business.
Industrial Property Tax Exemption
The Industrial Property Tax Exemption incentive provides a phasing-in of the increase in taxable property valuation as a result of a business' investment in Perry. Tax exemption is provided according to the following scale:
Year 1- 75% exemption of additional taxable value Year 2- 60% exemption of additional taxable value Year 3- 45% exemption of additional taxable value Year 4- 30% exemption of additional taxable value Year 5- 15% exemption of additional taxable value
City of Perry Economic Development Loan Fund
The general intent of the Business Revolving Loan Fund is to help local businesses to maintain and enhance their properties in Perry. The city strives to maintain a vibrant business climate and to insure economic stability in the community along with sustaining the buildings that house Perry’s businesses.
This revolving loan fund provides monies, at a low interest rate, that may be used to fund projects to sustain and/or enhance a building in Perry by a qualified business, and the related costs and expenses as allowed by applicable City ordinances and State statutes. 1.Façade improvements, including windows and doors 2. Complete roof replacement and/or repairs 3.Interior remodel 4.Heating, cooling, and plumbing replacements, extra consideration for green initiatives 5.Mechanical and lighting improvements, extra consideration for green initiatives 6.Extra consideration will be given to projects using local contractors.
City of Perry Economic Development Loan Fund Application
This loan fund is administered by the Greater Dallas County Development Alliance. This fund provides financial assistance to businesses that plan to make a capital investment to create new job opportunities and/or retain existing jobs in Dallas County. The assistance is provided in the form of low-interest loans with a maximum award of $50,000 possible. The fund assistance is provided to encourage new business startups, expansion or retention of existing businesses, or recruitment of out-of-state businesses. The award amount is based on job creation, quality of employment and the businesses benefit to the local community and county.
For More Information Contact: Greater Dallas County Development Alliance Linda Wunsch, Executive Director 515.987.2020