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HBA Advocacy Update

Horace's Two-Year Property Exemption expired Jan. 1, 2023

Last week, HBA of F-M's CEO Bryce Johnson sent an email notifying you that Horace allowed its two-year property tax exemption on newly constructed homes to expire. We have been working diligently with the Fargo-Moorhead Area Association of Realtors to prepare for the next city council meeting at 6 p.m. Jan. 24, at 413 Main St, Horace Fire Hall, and communicate the exemption's positive effects. The exemption is on the agenda and will be discussed. We encourage residents and individuals positively impacted by the tax exemption in Horace to attend. FMAAR and HBA of F-M also sent a letter to the city council urging them to reinstate the exemption back to Dec. 31, 2022. Read the letter here.

NDAB Legislative Work

NDAB and HBA-FM monitor bills as they come up and advocate on behalf of our industry. Hundreds of bills have been introduced this session. Of particular interest are bills relating to appraisals, workforce, as well as electrical inspection reform.

Last week, NDAB CEO Kayla Pulvermacher testified to support House Bill 1199, which is a bill for an Act to provide an appropriation to the department of career and technical education for the statewide area and career center initiative grant program; to authorize a Bank of North Dakota line of credit; to provide an exemption; and to declare an emergency.

This would provide $10 million for the Cass County Career & Technical Education Center in Fargo. 

NDAB is sending a weekly legislative update to members, watch for it in your inbox!

NAHB Housing Industry Overview

How and When Will Housing Rebound?

NAHB Chief Economist Robert Dietz recently released a housing industry overview. Click here to read it.

In the overview, two statistics stick out: according to new NAHB estimates, 18 million households were priced out of the market as rates increased from 3% to 7% throughout 2022. Additionally, a new NAHB study estimates the housing market is underbuilt by 1.5 million homes. 

These statistics highlight the importance of attainable housing. While many factors to housing may seem out of our control, your national, state, and local association are working daily to advocate for you and for attainable housing. 

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