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Committee reviews city's new-housing tax abatement program and rules
Summary
Staff summarized the city's 2023 reinstatement of state-authorized homebuilder and homeowner property tax abatements, eligibility rules and expiration dates; committee sought usage data and assessor follow-up.
City staff reviewed the new-housing construction incentives the council reinstated in 2023 and answered committee questions about eligibility, duration and scope.
Brian, city staff member, summarized the two incentives adopted by the council: a one-year property-tax abatement for homebuilders and a two-year abatement for new homeowners. He said the builder benefit allows up to $150,000 in true and full value of improvements to be abated for up to 10 properties annually and that the program "is a state of North Dakota program that cities and counties can adopt. So these rules are state rules."
Staff…
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