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Tax Incentives
There are currently 16 communities with a Renaissance Zone in North Dakota, with over 130 zone projects involving new purchases, new construction, rehabilitation, historical preservation and renovation, and leased spaces.
The purpose of each zone is to encourage revitalization and development within a designated area consisting of both residential and commercial properties. Generally a zone may consist of up to 20 square, contiguous blocks. Cities of over 5,000 in population may include an additional block for every 5,000 population increment.
Within a Renaissance Zone, there are state income and local property tax exemptions for zone projects, as well as historical tax credits, available to approved zone projects.
The North Dakota Department of Commerce provides guidance to interested communities, approves a city’s Development Plan for a zone, designates each zone, and approves zone projects selected by each designated zone.
Related Links:
North Dakota Renaissance Zones Program
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