Taxes would be frozen at 2013 value
WILLMAR — If Torgerson Properties’ request for a tax abatement is approved, the company’s property tax would be frozen at the 2013 value of $110,362 a year during the period.
Bruce Peterson, planning and development director estimated the abated portion of the property tax at about $23,000 per year, or about $230,000, over the proposed 10-year period. The abated portion represents the increased value of the property.
The city’s 2013 property tax levy is $4,139,734.