New Construction

Cities offer tax incentives on new construction

Fargo and West Fargo

  • Save up to $4,000 on your property tax bill when you buy a newly built home in Fargo or West Fargo.
  • Home owners get an exemption on up to $150,000 off their property valuation for two taxable years following the year the home was sold. (Home owners will be responsible for the property taxes for the partial year until the next taxable year begins.)
  • Available on newly constructed single-family homes, townhomes and condominiums.
  • Available to the first owner after the builder who resides on the property.

Dilworth and Moorhead

  • Get a two-year property tax rebate on newly built homes in Dilworth and Moorhead: on a $250,000 home, this is a value of $5,500 over the two-year period.
  • There is no maximum value on new construction of single-family homes, including the building and land.
  • Home buyers get a full rebate of general taxes paid to the city, schools and county in a check at year-end for two years.
  • Available citywide in both Dilworth and Moorhead.

Down payment, closing cost, financing assistance

Home buyer assistance through state and local governments comes in many different forms:

North Dakota

  • Zero-interest, deferred payment loans are available in North Dakota through the North Dakota Finance Agency’s Down Payment and Closing Cost Assistance Program. They aim to help lower-income, first-time home buyers meet their out-of-pocket cash requirements. The home buyer may be eligible to receive the greater of 3 percent of the purchase price of the home or $3,000. For more information, visit www.ndhfa.org or contact a participating lender.

Minnesota

  • Minnesota Housing first-time and move-up buyer programs are available to eligible buyers in Moorhead and Dilworth. These state housing programs give home buyers several options for down payment/closing cost assistance and mortgage financing, depending on income and borrower eligibility.
  • There are a number of lenders locally who participate in Minnesota Housing programs, including Start Up and Step Up low-interest mortgage and down-payment programs.
  • Moorhead first-time buyers can take advantage of the First & New Program, a zero-interest $5,000 deferred special assessment loan, when purchasing a newly constructed home.

This information encompasses Dilworth, Fargo, Moorhead and West Fargo. If unlisted, contact your local jurisdiction for more details on specific incentives it may offer.