Residential New Construction Exemption
Newly constructed single family, duplex, townhome, or condominium properties may be eligible for an exemption on part of their valuation for up to two taxable years following the taxable year that construction began. The taxable year is from February 1 to January 31.
This exemption is available to the first owner (after the builder) who resides on the property. In the case of single-family properties (not duplexes, townhomes or condominiums), the builder who still owns the property is also eligible for the exemption. On homes built after Feb. 1, 2008, the builder will no longer be eligible for the exemption.
All properties eligible for this exemption will receive the maximum exemption allowed under the law. The maximum allowable is the building value up to $75,000.
View a detailed description of this exemption as a PDF file. You will need the free Adobe Acrobat Reader to view this file.
You must apply for this exemption in the City of Fargo Assessment Department. If you have any questions, please call that department at 701-241-1340.