Horace’s discontinued tax abatement program leaves area Realtors puzzled – InForum
HORACE — Area home buyers, Realtors and builders will look to make a case for government officials in hopes of reestablishing Horace’s tax abatement program, which was not renewed after it expired on Jan. 1.
Horace’s tax abatement program, which is similar to that authorized by the North Dakota Century Code, gives buyers of new homes a two-year break on property taxes for certain new single-family residential properties and condominiums and townhouses. According to state law, the maximum exemption allowed is $150,000 of true and full valuation of improvements only and land is still taxable.
Horace Mayor Kory Peterson said