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Ward County commissioners narrowly voted Tuesday to support a proposal to expand the tax exemptions for some Renaissance Zone properties in Minot.
State law has allowed Renaissance Zones to offer five-year property tax exemptions if property owners within the zone make improvements of 50% or more of the property's value. A recent law change allows property owners who make improvements of 75% or more to receive the exemptions for eight years.
The Ward County Commission previously supported a five-year renewal for Minot's Renaissance Zone. However, commissioners delayed acting on the eight-year provision to investigate whether they can increase the amount of improvement required for the additional benefit.
In learning from the state that they have that authority, commissioners voted 3-2 to allow the Minot Renaissance Zone to grant tax exemptions for eight years if the investment is 150% or more of the property valuation.
"I'm not comfortable with extending as well as increasing the tax reduction," Commission Chairman John Fjeldahl said. "I just think this is getting more specific all the time in who can qualify for it. I'm not comfortable with that."
Fjeldahl and Commissioner Howard "Bucky" Anderson voted against the change while Commissioners Shelly Weppler, Jason Olson and Jim Rostad voted for it.
The commission previously rejected options to extend the life of the Renaissance Zone from five years to 10 years and to allow property owners to apply for tax incentives a second time for improvements made 30 years after the first renovations.
The City of Minot also will be seeking approval from the Minot School Board before the city council finalizes a proposal to send to the state for its approval. All the entities must agree on the details of the zone for a plan to be adopted.