If a construction project, either new construction or improvements to existing properties, adds value to a property, it is most likely eligible to receive a break on increased property taxes resulting from the improvements. This is called a property tax abatement. Projects that involve three or more dwelling units may be eligible to receive a tax abatement on 100% of the values added for 10 years. Improvements to commercial properties may be eligible to receive either a 3 year, 100% tax abatement, or a 10 year, graduated abatement. Improvements to single or two family residential dwellings may be eligible to receive a 5 year tax abatement for up to $75,000 in improvements. Applications are due February 1st of every year for improvements made in the previous year. Contact the Building and Zoning Administrator (319-385-1474) or the Henry County Assessor (319-385-0750) for more information.