Remodeling Exemption
All commercial properties are eligible for an exemption for up to five years of any value added due to certain remodeling projects.
The exemption is limited to the value added by the City of Fargo Assessor for improvements made to the property. Current city policy also allows exemptions for additions to commercial properties 25 years old and older in the Central Business District (CBD). The exemption basically freezes the value of the qualifying part of the structure at where it was prior to starting the remodeling project. The following table summarizes current cty policy regarding this business exemption:
|
Type
|
Years exempted
|
Building age
|
Improvements
|
Misc.
|
| Apartments |
3 |
25-39 |
Remodeling and additions |
|
| Apartments |
5 |
40+ |
Remodeling and additions |
|
| Commercial |
3 |
All |
Remodeling only |
Outside CBD |
| Commercial |
3 |
1-24 |
Remodeling only |
In CBD |
| Commercial |
5 |
25+ |
Remodeling and additions |
In CBD |
View a PDF for a detailed description of the exemption and a copy of the application form. You will need the free Adobe Acrobat Reader to open this file.
To apply for an exemption, please contact the City of Fargo Assesor's Office at 701-241-1340.
