HORACE, N.D. (KFGO) – The Horace City Council voted not to extend its tax abatement program for new home construction until July when the council will reconsider it again. There was a full house at the Tuesday night meeting.
Every two years the council makes a decision on whether to renew the program. The city had already decided it would not renew the new home buyer tax break as of January 1. There are concerns about the growing pains that have resulted from the rapid growth of the city which has resulted in increased property taxes, more infrastructure, and other costs to residents. A report last year indicated Horace has seen a growth rate of more than 200% since 2000.
Developers and realtors at the city council meeting tried to make their case for Horace to reconsider extending the two-year tax abatement now but it failed on a 3-1 vote.
