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Van Dyke's Taxidermy
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Realizing that economic development is critical to Sanborn County’s future, several incentives have been established to assist housing and business development.
Discretionary Tax Formula. Sanborn County Commissioners implemented a discretionary tax formula program that reduces taxes on new and remodel construction. This formula steps by 20% per year for 5 years. The first year owners pay 20% of their assessed value of their property., 40% the second year, 60% the third year, 80% the forth year and 100% the fifth year. To qualify assessed values must be at least $30,000 for Commercial, $5,000 for Residence and $15,000 for Ag.
SCDC Revolving Loan Fund. Coming Soon! The purpose of this fund is to assist in business retention and the finance of new and expanding business within Sanborn County. The goal is to assist businesses of adequate working capital and to revolve the fund often to create numerous opportunities. SCDC offers two types of loans, a Direct Loan and a Guaranteed Loan. Each of these loans offer a maximum of $50,000 per applicant or 50% of the total loan package. These loans will be termed for 20 years for land and buildings, 10 years for equipment with a balloon payment year 5. Additional funding is available under other funding options. The current interest rate for the revolving fund is 6% plus a 1% origination fee. A lower rate of interest may be applied if certain criteria are met. The rate will be fixed for the term of the loan.
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