NEW HOME CONSTRUCTION DOES NOT BRING A SUBSTANTIAL INFLUX OF TAX DOLLARS TO ELDRIDGE! Tax rates for residential properties are significantly lower in Scott County (and therefore Eldridge) than for commercial or residential properties due to the high tax rollback on residential property. The high number of services the City provides to residents at a low cost makes home construction a low revenue generator by comparison. Commercial and industrial properties on the other hand are taxed at 90% of their valuations, have much higher valuations and therefore provide a much higher source of revenue by comparison. Unfortunately, Eldridge is not seeing the boom in commercial and industrial development that we are in residential development. This is why the new residential growth Eldridge is currently experiencing does not generate as much in tax revenue as the general public thinks it does, but we are still growing and that’s great news!
