Property Taxes? Good News Continues

News-Wage

FOR IMMEDIATE RELEASE

For more information, contact:

Jeff Dooley, district manager, Dakota Dunes Community Improvement District

Jeff.dooley@dakotadunes.com or 605-232-4211

Lower Mill Levy’s Fuel Residential and Commercial Growth at Dakota Dunes

DAKOTA DUNES, S.D. – While most other communities are facing rising mill levy’s and costs, Dakota Dunes continues to buck that trend while still growing its residential and commercial bases.

For the past 15 years, the amount mil levy rate has decreased more than 24 percent on the residential side and 30 percent on the commercial properties. The lower property taxes continue to drive growth and expansion at the master-planned community, according to Jeff Dooley, district manager for Dakota Dunes Community Improvement District, the governing entity for Dakota Dunes.

“All of the taxing entities have done a tremendous job of holding down costs over the past many years. When you combine that with the growth we have had on both the residential and commercial areas, it adds up to a shrinking annual mil levy,” Dooley said. On the residential side, the mil levy was $23.53 in 2001 and now is $17.84 for 2017. The levy was $32.14 and is now at $22.39 for commercial properties covering the same time period.

“The lower tax rates, of course, is just one more reason why the population and business numbers continue to grow,” Dooley added. “The Dunes has many amenities and quality-of-life aspects that also fuel that growth, such as biking and hiking trails, a tremendous golf course and other recreational enhancements. Not many other communities can mirror the growth we have experienced here at Dakota Dunes in the past decade.”

For instance, in early 2001, the number on residential water meters was 467 – and that number climbed to 1,156 as of January 1 this year. Commercial growth for the same period shows 25 meters in 2001 and 81 in 2017.

Dooley also attributes the Dunes’ continuing growth to South Dakota’s favorable business tax environment which includes no personal or corporate state income tax, no personal property tax, no business inventory tax, and no inheritance tax.

In the past 15-plus years, the taxable value for Dakota Dunes has climbed an impressive 185 percent – going from $146 million taxable value in 2000 to more than $491 million currently

“We have experienced some tremendous growth since Dakota Dunes was created almost 30 years ago,” Dooley added, “which shows families and businesses willingness to invest in Dakota Dunes.” Based on current projections, he estimates the residential portion of Dakota Dunes will be filled in about five more years, with the commercial buildout taking 10 years.

The Dakota Dunes Community Improvement District was established by the South Dakota legislature in 1989, and is governed by a five-member board. Dooley said the board’s successful philosophy is “keeping operations simple and low-cost.”

“We are excited to be a part of the Siouxland community. Our role here in terms of economic development is to continue to bring good, well-paying jobs to the area.”

Founded in 1988, the Dunes is a 2000-acre master planned business and residential community. Dakota Dunes Development Company is the master developer and owned by Berkshire Hathaway Energy, one of the largest utility holding companies in the United States, headquartered in Des Moines, Iowa. Of the 2,000 acres included in the community, approximately 434 acres have been reserved for office, light industrial and retail facilities; 543 acres for residential single family houses, townhomes and apartments; 343 acres for two golf courses and 627 acres for open space and public right of ways.

Dakota Dunes is home to more than 110 businesses with 2,100 employees.