Remodeling

Fargo Remodeling Exemption

Residential properties more than 40 years old are eligible for a five-year exemption on any value added due to certain remodeling. If the property is less than 40 years old it is eligible for a three-year exemption on remodeling and additions. Residential buildings must be at least 25 years old to qualify for the remodeling exemption. The exemption is limited to the value added, by the assessor, for improvements done within the existing structure. For all eligible residential properties and commercial buildings 25 years and older in the Central Business District; this includes additions to the structure. The exemption basically freezes the value of the qualifying part of the structure at where it was prior to starting the remodeling project. Application for any of the above exemptions is made with the City of Fargo Assessors office. Anyone interested in applying can call the office at (701) 241-1340.

Fargo Housing Rehabilitation Program

The goals of this program are:

  • To preserve housing and older neighborhoods;
  • To provide assistance to lower income homeowners to maintain their homes as safe, sanitary dwellings which meet minimum housing codes;
  • To preserve the character of older neighborhoods by preventing houses from becoming dilapidated nuisances in a neighborhood.

West Fargo Remodeling Exemption

Residential property must be 25 years old to qualify. Residential property that involves a remodeling project with a $25,000 increase in true and full value is eligible for up to five years. A project that is less than $25,000 is eligible for up to three years. The exemption is limited to the value added, by the assessor, for improvements done within the existing structure. It does not allow an exemption for new construction. Additions as part of remodeling are allowed. The exemption basically freezes the value of the qualifying part of the structure at its current value prior to starting the remodeling project. For more information, call the West Fargo Assessment Department at (701) 433-5340.

West Fargo Renaissance Zone

The West Fargo Renaissance Zone was created in 2000 to spur private sector reinvestment in downtown and increase the overall vitality of the once central business district. The Renaissance Zone encompasses a 20-block area primarily located on Sheyenne Street, Center Street and Main Avenue corridors. This area includes commercial as well as residential properties. Both types of properties are eligible for property tax exemptions through the city and approved projects are able to apply for state income tax exemptions. To qualify for these exemptions, a proposal must be made to the city based on established criteria. To date, the West Fargo Renaissance Zone has seen successful completion of 16 projects of which 14 were of commercial in nature. Please call Dorinda Anderson, West Fargo’s Business Development Director at (701) 433-5350 for more information on incentive programs that are available.

Moorhead Home Improvement Opportunities

There are a variety of opportunities for you to update, improve, or repair your home. In addition to market rate home improvement loans, there are other programs offered by the Minnesota Housing Finance Agency and the City of Moorhead.

  • Minnesota Fix Up Fund
    Homeowners earning $89,000 or less may borrow up to $35,000 and repay the loan with fixed monthly payments over 20 years. Any Moorhead lender can provide details. For a list of participating lenders, call (218) 299-5375.
  • City of Moorhead Home Rehabilitation Program
    Interest-free loans up to $20,000 are available to households earning less than 60 percent of the median household income ($39,000 for a family of four). No interest accrues on the loan and no monthly payments are required. The entire balance must be repaid when the owner moves or otherwise vacates the property. Further information is available from the Moorhead Housing Rehabilitation office: (218) 299-5425.

Moorhead’s Homestead Tax Credit

Minnesota homestead classification provides a property tax credit for property that is owned and occupied by the owner. The amount of homestead credit varies depending on the market value of the property. The maximum amount of the credit $304 for properties with a market value of $76,000. As the property’s market value increases above $76,000, the amount of the credit decreases. To apply for the homestead classification, you must complete a homestead application. Apply at the Moorhead city assessor’s office for properties located within the Moorhead city limits. Apply at your county assessor’s office for all other properties.