Resolution Passed:
On October 5th, 2009 West Fargo City Commissioners passed a new resolution for residential exemptions for both first buyers and builders.
For the buyers NDCC § 57-02-08(35) : This grants an exemption to the first buyer for up to $150,000 of the building value for two taxable years after completion of construction and home is owner occupied for properties where construction started in 2009. Property taxes and special assessment installments must be current.
For the builders NDCC § 57-02-08(35) : This grants an exemption for up to $150,000 of the building value on five properties for the year of construction and one additional year for properties where construction started in 2009. The property must remain owned by the builder and remain unoccupied. Property taxes and special assessment installments must be current.