d. Buffalo renaissance zone-letter of support

ND Code Sec. 40-63-05, Property tax exemptions *19691 N.D. Code 40-63-05 WEST'S NORTH DAKOTA CODE TITLE 40. MUNICIPAL GOVERNMENT CHAPTER 40-63. RENAISSANCE ZONES Current through the 2005 Regular Session of the 59th Legislative Assembly ~ 40-63-05. Property tax exemptions 1. A municipality may grant a partial or complete exemption from ad valorem taxation on single- family residential property, exclusive of the land on which it is situated, if the property was purchased or rehabilitated by an individual for the individual's primary place of residence as a zone project. An exemption granted under this subsection may not extend beyond five taxable years following the date of acquisition or completion of rehabilitation. 2. A municipality may grant a partial or complete exemption from ad valorem taxation Page 1 on buildings, structures, fixtures, and improvements purchased or rehabilitated as a zone project for any business or investment purpose. An exemption under this subsection may not extend beyond five taxable years following the date of purchase or completion of rehabilitation. Added by L.1999, c. 369, J 5, eff. Jan. I, 1999. Amended by L.2001, c. 359, J 5; L.2005, c. 545, J 3, eff. Jan. I, 2005. HISTORICAL NOTES HISTORICAL AND STATUTORY NOTES L.2001, c. 359, ~ 12, provides: "APPLICATION. Sections 4 and 5 of this Act apply to zone projects approved after December 31, 1999, and section 6 of this Act applies to zone projects approved after July 31,2001." L.2005, c. 545, ~ II provides: "SECTION II. EFFECTIVE DATE. This Act is effective for all taxable years beginning after December 31, 2004." Search this disc for cases citing this section. ~ 2007 Thomson/West. No claim to original U.S. Govt. works.