Commercial office space development

From the 2024 DOR Tax Exemption Study

82.14.532 - Commercial office space development Description A governing authority of a city, located in a county with a population of less than 1.5 million may designate a commercial office space development area within the city’s urban center. The city may adopt a local sales and use tax remittance program to incentivize the development of commercial office space within the development area. The city may also establish a local property tax reinvestment program to make public improvements that incentivize the development of commercial office space. Purpose Encourage the development of high-quality commercial office space in urban centers outside major metropolitan areas. Taxpayer ($ in millions): savings FY 2024 FY 2025 FY 2026 FY 2027 State Taxes $0.000 $0.000 $0.000 $0.000 Local Taxes $0.000 $0.000 $0.000 $0.000 Repeal of Repealing this remittance would not increase revenue because currently no exemption taxpayers use it. This exemption is only for local sales tax and therefore a repeal would have no effect on state revenue. The property tax portion of this legislation is not an exemption. It requires local taxing districts to earmark future property taxes collected on a qualifyi