Renaissance Zone

What is the Renaissance Zone & How Can It Help Me?

The Renaissance Zone Program is a state-based project, sponsored by the North Dakota Department of Commerce that utilizes tax incentives to promote business growth and urban renewal.

Oakes Renaissance Zone Map (PDF)
Renaissance Zone Information (PDF)

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How Do I Apply?

To apply, complete the application listed below and submit to City Hall.  Please contact City Auditor for assistance or more information, 701-742-2137. 

• State Application (PDF)
• Local Application (PDF)
• Requesting Certificate Good Standing (PDF)
• APPLICATION FOR BUILDING PERMIT-2016 (PDF)
• New Business Property Tax Exemption Application (PDF)
• New Residential Construction Tax Exemption - Oakes (PDF)
• New Residential Property Tax Exemption - Oakes (PDF)
• Property Tax Exempt for Improvements Application (PDF)

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Who Qualifies?

Purchasers and current owners of single family residences located within the Renaissance Zone with improvements exceeding 20% of the true and full value may qualify. Purchasers and current owners of commercial property located within the Renaissance Zone with improvements exceeding 50% of the true and full value may qualify.

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Objectives & Goals

• The Renaissance Zone will make Oakes a more business-friendly community that will attract new businesses and services.
• The Renaissance Zone encourages home improvement to maintain a supply of a good and diverse housing inventory that meets the needs of all age groups and income levels.
• The Renaissance Zone will encourage home ownership and local investment in housing and business development.
• The Renaissance Zone will improve the visual appearance of the downtown business district by making it a vibrant and inviting place for all types of activities.
• The Renaissance Zone promotes Oakes as a city that offers a full range of services for its citizens, visitors and prospective customers, residents, and business owners.
• The Renaissance Zone will improve the overall tax base and ultimately aide in creating new jobs.
• The Renaissance Zone will be a catalyst to continued downtown revitalization, building upon infrastructure improvements and recent economic development.

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Possible Benefits

Property Tax Exemption
Property undergoing renovations or improvements in the Renaissance Zone Plan shall be eligible for a 50% exemption for two years on the improvements to property that is rehabilitated. Single family property tax exemption-owner. The city will grant a 100% exemption two years on the ownership up to $100,000 of the full value of a single-family, condominium, and townhouse type structure to the first time owner or occupant. Business investment property tax exemption-construction. The city will grant an exemption for 5 years on any property expanding or newly constructed for any business purpose at the following rate: year one 100%, year two 80%, year three 60%, year four 40%, year five 20%.

State Tax Credit and Exemption
Single-family residence individual income tax credit up to $10,000 per year for five years to purchase or rehabilitation projects Business state income tax exemption up to 100% for five years for purchase, lease rehabilitation, leasehold improvement or public utility infrastructure projects Investment income exemption up to 100% for five years for purchase, lease rehabilitation, or leasehold improvements for residential or commercial properties Business purchase or expansion individual income tax credit up to $2,000 per year for five years for purchase of a new business, expand an existing business owned by the taxpayer, or leasehold for residential or commercial projects.

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ND Tax Commissioner has additional information.