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HBA Advocacy Update

Update on Horace's two-year property tax exemption for new construction expiration

On Jan. 24, the Horace city council addressed the expiration of the two-year property tax exemption. Over 50 residents, Realtors, builders and homeowners showed up for the discussion.

The outcomes that occurred:

1. The tax exemption will be honored for permits pulled in 2022. This was the first vote the council did, prior to the presentation done by the Fargo Moorhead Area Association of Realtors (FMAAR) and HBA-FM. 

2. The exemption will remain expired for 6 months, and will be reevaluated in July at another Horace city council meeting. The motion passed with three affirmative votes.

What has happened in Horace highlights the need to continue sharing the positive stories that come from utilizing tax exemptions and other economic incentives. The HBA will continue our work with FMAAR in the months ahead and will be prepared to address the exemption in July. In the meantime, we encourage you to remain engaged! 

Thank you to everyone that provided insight, showed their support and presented at the meeting. 

Minnesota Governor's proposed bonding bill provides funding for local projects

Minnesota Governor, Tim Walz released his budget proposal on Jan. 26. 

As part of the Governor's bonding bill, Moorhead would receive over $24 million towards flood protection, helping to fulfill their portion of the F-M diversion. 

Dilworth would receive a $4.4 million grant towards demolishing and building new, or renovating the existing fire station and community center.

News from the Minnesota Department of Labor and Industry

MN DLI released its newsletter for Feb. 2023. It includes information on various education offerings and virtual electrical inspections in some parts of Minnesota. Click here to read the newsletter.

NDAB Legislature News

NDAB and HBA of F-M wants YOU to contact your legislators over two bills. 

NDAB sent out the following information in their Advocacy Alert:

  • SB 2303 would create a maximum basement depth for residential properties. NDAB and HBA of F-M oppose this bill. 
  • HB 1499 makes homeownership more affordable across the state. NDAB and HBA of F-M support this bill.
    • Creates a $50M fund managed by the Bank of North Dakota to create a program to buy down interest rates
    • Applies to purchase or refinance
    • Available for loans up to $400,000
    • Buys down interest rates at closing up to 2%, but not to go below 4%
    • If the person lives in the house for 5 years the cost of the points are forgiven at a rate of 20% per year
    • This bill is sponsored by Representatives Roers Jones, Conmy, Cory, Hanson, Mitskog, O'Brien, Pyle, Schreiber-Beck, Strinden, and VanWinkle and Senators Axtman, and K. Roers

Click here to contact your legislators. 

Check your email to make sure you are receiving the most up-to-date information from NDAB. 

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