Make Moorhead Home New Construction Property Tax Rebate Program

Instructions:

How do I qualify for the new construction rebate?

To qualify, the property must:

Be located within Moorhead City limits and classified as 1a,1b,2a,4b or 4bb (1-3 unit residential). The classification of your property can be found on your property tax statement or by contacting the City Assessor. The property must be new construction with no part of the structure commenced prior to January 1, 2012. Construction of the property must commence prior to December 31, 2014. Construction is deemed to have commenced if a city building permit has been issued and the mandatory footing or foundation inspection has been completed.

What is the benefit?

For property classified as 1a,1b,2a,4b or 4bb (1-3 unit residential) the rebate is the entire market value of the land and new improvements. The rebate includes the two payable tax years that correspond with the two assessment years after construction commenced.

How does the new construction credit work?

Builders or purchasers of new homes for which construction commenced between January 1, 2012 and December 31, 2014 are eligible for a rebate of some or all general real estate taxes for the first two years following home construction. There is no minimum or maximum market value limit, and land value is included. Special levies such as school bond referendum, watershed, and economic development are not included in the rebate. Special assessments are not part of the rebate.

What if the residence sells during the rebate period?

Once an application is submitted and approved on a residence, the parcel is eligible for two payable tax years even if the ownership transfers.
If the residence is constructed on or before August 31, 2012, I understand my rebate will be smaller than homes built after September 1.
 

Will I get the full amount the second year?

No. Construction activity that began prior to September 1, 2012 is not eligible for the Clay County portion of the tax payments for either year of eligibility. 


When will I get my rebate check?

Tax payments are required to be paid as due on May 15th and October 15th of each year. A rebate of the eligible portion of the tax payments will be mailed by the Clay County Treasurer in December of each year of eligibility. 

How do I apply?

Complete the application and return it to the City Assessor. Completed applications must be returned by January 31 of the year following the commencement of construction. Click here to download Application.

How we use information

The county/city assessor may share the information contained on this form with the County Auditor, County Attorney, Commissioner of Revenue or other federal, state or local authorities to verify your eligibility for the rebate. You do not have to provide this information. However, refusal may disqualify you from consideration for the rebate. 

Penalties 

Making false statements on this application is against the law. Minnesota Statutes, Section 609.41 states that giving false information in order to avoid or reduce their tax obligations can result in a fine up to $3,000 and/or up to one year in prison. 

For more information contact:

City of Moorhead

ATTN: Assessor Dept.

500 Center Avenue

Moorhead MN 56560

(218) 299-5310

Assessor@cityofmoorhead.com

www.makeMoorheadhome.com

Most Overlooked Tax Deductions

Every year, the IRS dutifully reports the most common blunders that taxpayers make on their returns. And every year, at or near the top of the “oops” list is forgetting to enter their Social Security number at the top of the tax form -- or making a mistake when entering those nine digits.

But think about it for a minute: Do you think that’s the most common mistake . . . or simply the easiest to notice?  One thing we know for sure is that the opportunity to make mistakes is almost unlimited, and missed deductions can be the most costly.

Read more...

Seller’s Checklist

• Hire a stager, inspector, photographer and other professionals as needed.

• Pressure-wash sidewalks and decks.

• Clean windows.

• Clear gutters and downspouts.

• Remove weeds; mulch; plant flowers.

• Clear cobwebs, leaves from porches, patios.

• Re-grout bathtubs and faucets.

• Have air conditioning and furnace checked.

Large Lot - Affordable Price - Close to Fargo!

First Time Home Sellers - Tips!!

Attention first-time home sellers: This is not your father's housing market.

Today's buyer-take-all market is a benefit for buyers with great credit and deep pockets. But sellers are stunned with new realities that include paying (rather than making) money at the closing table, providing extras to sweeten the deal, and spending more time and cash making the home camera-ready.

For first-time sellers who have never been through the process before, it's a different world. One where the value of the house isn't measured in the profit made on the sale, but by the enjoyment the owners had from living in the home.

~Here are some important things experienced sellers would tell you, if they could.

The Importance of Lighting and Putting Your Home for Sale in the Best Light

"Before"

"After"

Don’t forget lighting updates when planning to sell. From front door lighting to bathroom fixtures and everything in between, updating lighting is an important item on a home owner’s checklist when planning to sell a home. Brushed or satin nickel finishes on lighting fixtures make a subtle impact when a prospect first sees MLS pictures and decides what homes to actually spend the time visiting.  Don’t be left off this list.

Read More...The Importance of Lighting and Putting Your Listings in the Best Light

2013 Spring Parade of Homes Fargo ND

The 2013 Spring Parade of Homes hosted by Home Builders Association of F-M will be April 27-May 5.

Modern Market Realtors

The Home Builders Association of Fargo-Moorhead hosts two Parade events each year, one in the spring and one in the fall.



Admission is free.

Description

The spring Parade, held over nine days, will include homes in a wide range of prices built by HBA of F-M builders, each with his or her own distinct style. Bright yellow and blue directional signs and pennants will mark homes participating in the parade.

Hours are 6:30 - 8:30 p.m. weekdays and noon - 5 p.m. weekends. 

Fargo Real Estate Fun Fact!

More Home... Less Money...

The principal and interest portion of the payment on a home bought a few yrs ago for $136,000 at 6.5% int, would be the same as a $200,000 home today at today's rate of *3.50% interest!

Its amazing how much more home you can afford now with these low rates!



*rates change often, this rate used is for informational purposes only, please check with your lender for today's current rates.

25% of Consumers Have Errors on Credit Report

Consumers need to be extra vigilant about checking for any errors on their credit reports, according to the Federal Trade Commission.

One in four Americans report they’ve found an error on their credit report, according to a study conducted by the FTC, which analyzed 1,001 consumers’ credit reports from the three major agencies, Equifax, Experian, and TransUnion. Researchers helped the consumers spot potential errors on their reports.

Five percent of the consumers found such large errors on their report that they could have gotten stuck paying more for mortgages or other financial products, if they hadn’t taken steps to correct it before applying, according to the study.

The Worst Colors to Use in a Home

Emerald may be this year’s color of the year and hot hue, but which colors should you avoid?

Color research tells us some colors to avoid. Colors that can be considered, as some researchers note, “eye irritants” and can even cause headaches or mess with your vision.

According to color research, the worst offending color: Yellow as a “pure bright lemon.”

Selling your home preparations...

Possible large projects:
These large projects may cost you a bit of money, but some may be well worth the expense. I will help you decide which of these improvements will add value to your home, and which are not necessary.

• Painting—exterior and/or interior.
• Improving lawn and landscaping.
• Cleaning and repairing windows and screens.
• Cleaning and/or replacing carpets.
• Touching up or refinishing cabinets.
• Storing or disposing of furniture in order to make rooms appear larger.
• Cleaning drapes.
• Cleaning and repairing all appliances.

Home Ownership is Within More Americans' Reach

Low interest rates helped keep housing affordability high in the final quarter of 2012, according to the National Association of Home Builders/Wells Fargo Housing Opportunity Index released on Thursday.

Flood Forecast Making Big Changes After Snowfall

Heavy snow that piled up from storm after storm means big changes to the flood forecast for the Red River.
The F-M area now has a 79% risk of major spring flooding.
Just last month, the risk was only 6%. Major flood stage in Fargo is 30 feet, one that's been surpassed numerous times before.
There's a 50% chance the river will reach 33.2 feet. That's the level at which Fargo has to build a temporary dike on 2nd street, and Moorhead begins diking to protect the Hjemkomst Center.

Read Full Article Here: Flood Forecast Making Big Changes After Snowfall

2012 Cost vs. Value Report - Fargo, ND

To receive a FULL copy of the Fargo area Cost vs. Value Report.

Simply send an email to...
shannonbarnum@gmail.com
With subject line:  "Cost Value Report"

We will send you the full 11 page report of the Fargo areas remodeling cost vs. value studies done to help you decide what projects you can safely do to your home to get the most return on investment in today's market.

Top 10 Remodeling Projects ~ With Biggest Returns...

Home owners are investing in their homes once again, according to recent industry surveys that point to a strong rebound taking hold in home remodeling. Home owners also may be seeing higher gains from some of these remodeling projects at resale, according to the most recent Cost vs. Value Report, which reviews the top remodeling projects that offer the highest returns at resale. The Cost vs. Value Report is conducted each year by Remodeling Magazine, in conjunction with REALTOR(R) Magazine.

Which remodeling projects offer the potential for some of the biggest pay-backs at resale? The following mid-range remodeling jobs offer the highest returns, according to the 2013 Cost vs. Value Report.

1. Entry door replacement (steel)
Estimated job cost: $1,137
Return on investment at resale: 85.6%

2. Deck addition (wood)
Job cost: $9,327
ROI: 77.3%

Freddie Mac Mortgage Rates Report

Mortgage Rates Holding Steady...

Mortgage rates remained mostly unchanged throughout this past week, continuing a month long track of staying at their historical lows, Freddie Mac reported. "Mortgage rates have been stable, near record lows, for the past 4 weeks. Here’s a closer look at national averages for mortgage rates for the week ending February 21, according to Freddie Mac:

• 30-year fixed-rate mortgages: inched up to a 3.56 average this week, with an average 0.8 point, up from last week’s 3.53 percent. A year ago at this time, 30-year rates averaged 3.95 percent.
• 15-year fixed-rate mortgages: remained unchanged this week at 2.77 percent, with an average 0.8 point. Last year at this time, 15-year rates averaged 3.19 percent.

Home Scents That Help You Sell

Scents that help your home SELL!

Best & Worst scents for selling your home

Real estate professionals have long paid attention to the smell of a home, making sure the scent is pleasing to buyers to hopefully bring about a quicker sale. But new research suggests that some of the common scents real estate professionals may reach for in prepping a home for sale can actually turn off home buyers. Some of the worst scents for real estate open houses: Potpourri, chocolate-chip cookies, gourmet foods, and other baked goods, according to the study. On the other hand, some of the best smells: Lemon, green tea, cedar, pine, basil, and vanilla...

Read Full Article Here:
Wall Street Journal: "Using Smell to Make a Sale!"

Area Home Prices Strongest Performance in 7 Years

Fargo, ND Statistics...

Median Home Price 4th Quarter 2011: $154,000
Median Home Price 2012: $158,400
Yr. Change: +2.9%

Qualifying income:
With 5% down - $34,809
With 10% down  - $32,977
With 20% down - $29,313


Read Full Article Here: Strongest Performance of Area Home Prices in 7 yrs

Home Staging Tips: Table Layering

Home Sellers Staging Guide to a Faster, More Profitable Sale

Click here to find out your homes value in TODAY'S market!

• A sparkling home! Bathrooms, kitchens, carpets/flooring, windows and exterior should appear fresh and new with surfaces that appear to be germ free and smell fresh.
• Create a cohesive, well balanced and upscale environment buyers aspire to own. Furniture should be positioned to create a warm and inviting conversation area buyers can envision spending time with family and friends in. Draw attention to views and features through the use of line and color. Accessories per surface should generally range from 1-3 decorative items and no more than 5. Functional and everyday items should be put away for showings.
• Outdated areas may deter a sale. Inexpensive solutions include updating light fixtures and switch plates, cabinetry knobs, faucets. Studies show most updates actually have 100% or higher return on investment.