By Steve Browne
Valley City Times-Record

The Valley City Commission voted for the third time to table a motion to cap the five-year 100 percent property tax exemption at $250,000 for newly constructed single-family homes in the Renaissance Zone.
Commissioner Jon Wagar suggested tabling the motion again because Commissioner Steve Ondracek, who first brought up the motion, and Mayor Mary Lou Nielson were absent from the meeting.
The cap at $250,000 was suggested after consultation with the Renaissance Zone board. Ondracek had suggested considering a sliding exemption of 100 percent for the first year, 80 percent for the second, diminishing by 20 percent yearly.
Lloyd Nelson spoke at the meeting, “If somebody can afford a $250,000 home they can afford to pay taxes.”
Nelson suggested if a homeowner was granted a Renaissance Zone tax exemption, they should be required to stay in the home for 10 to 15 years.

For full story, see Wednesday's edition of the Valley City Times-Record.