Tax abatement granted for historic property

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Tax abatement granted for historic property

Thu, 07/20/2023 - 20:42
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The Excelsior Springs City Council held a public hearing regarding a property located at 208 Spring St., which was recently renovated and qualifies for 353tax abatement. The Missouri chapter 353 tax abatement is an incentive allowed by Missouri law encouraging the redevelopment of blighted property or areas by reducing property taxes for up to 25 years. The abatement, likewise, is assessed based on the value of the improvements made to the property or area. Owned by Eric Henson, the property is formerly known as the Arlington Hotel, and consists of two structures connected by a two-story passageway. One side of the building houses the Springdale apartments and the other is a commercial structure with residential apartments above it. “The two structures together comprise one parcel and the application is for the entire parcel,” said Laura Mize, community neighborhood specialist. Various improvements have been made to the building, including an entire remodel of the interior…

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