For the past six years, the Bettendorf Home Depot has received a $151,000 property tax rebate check from the city thanks to a Tax Increment Financing (TIF) deal that enticed the company to build a store as part of the Duck Creek Plaza redevelopment along Middle Road.
However, the significant tax break – totaling $5.37 million over the 11-year TIF period ending in 2016 – hasn't deterred the hardware store chain from pursuing nearly yearly appeals to state and local tax officials as it seeks to reduce the assessed value of the property, and, consequently the property taxes paid each year to Scott County, the city and the Bettendorf School District.
Two years ago, the company was successful in lowering its taxable value from $6.76 million to $6.167 million, a 9 percent decrease. Store attorneys had asked for a reduction to $6 million, or more than an 11 percent cut, according to Scott County officials. However, in the ensuing negotiations, the county and Home Depot agreed to the $6.167 million assessment.