Rexwinkels receive tax abatement incentive

Posted January 26, 2020 at 5:35 pm

By Julie Ann Madden

Rexwinkel Funeral Home is the first business to use Akron’s new Urban Revitalization Plan.

At their Jan. 14 meeting, Akron councilors unanimously approved allowing Rexwinkel Funeral Home owners Daniel and Lori Rexwinkel, of Le Mars, to receive property tax abatements on their new facility at 601 Torbert Blvd.

Because city officials had little infrastructure expenditures for this commercial property, Akron City Administrator Dan Rolfes recommended the council give the owners the full 10-year tax abatement exemption schedule.

The first year, which will be this year, the Rexwinkels will receive an exemption on 80 percent of the actual value added. The percentage will decrease over the next decade to a final tax exemption of 20 percent of the actual value added in 2030.

The new funeral home, which has a construction and lot cost estimate of $500,000, will replace Rexwinkels’ existing building at 200 Main St.

Comments are closed.