The City of Altoona generally uses property tax based financial programs to assist businesses and developers in the community.
Tax Increment Financing (TIF)
TIF rebate incentives are available within defined TIF districts in Altoona for projects that add taxable valuation. The Altoona TIF policy outlines the general parameters of the program, but please contact city staff for additional information or to discuss your project. The extent of TIF funding is negotiated with the City.
TIF Policy Apply for TIF
Industrial Tax Abatement
The City of Altoona has authorized the State of Iowa’s Industrial Tax Abatement program. The program provides a partial exemption of property taxes for a period of five years from the actual value of added of industrial real estate. To be eligible, your project must be a distribution center, warehouse, research facility, or industrial real estate. For specific program information, see Chapter 8 of the City Code – Industrial Property Tax Exemptions.
- 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
In addition to the City of Altoona incentives, your project may also be eligible for additional incentives from other government and private entities.
- Iowa Economic Development Authority has a number of resources, mainly geared towards high-quality jobs and job training. Workforce training programs are available thru the State of Iowa and working with Business Resource center at Des Moines Area Community College The Iowa New Jobs Training Program (260E) and the Iowa Jobs Training Program (260F) are two options to help pay for job training of your new or existing employees.
- 10,000 Small Businesses from Goldman Sachs. The program is administered by DMACC. The program provides skills to help small business.