Commercial & Industrial Properties
Property Tax Exemption
The project must be new construction or a substantial expansion/rehabilitation of an existing building and meet minimum project requirements for new building value and jobs. Only building improvements are eligible for the property tax exemption. Land and existing improvements (unless demolished) remain taxable. Applications are accepted anytime. Due to notice and public hearing requirements, allow approximately 6 weeks for approvals.
For more information or to request an application, contact Economic Development or call 218.299.5441, toll free 877.833.6667.
|
New Building Taxable Value |
Full Time Equivalent (FTE) Jobs - Minimum Created or Retained |
Term of Exemption |
|---|---|---|
|
$150,000-249,999 |
1 |
2 years |
|
$250,000-499,999 |
2 |
3 years |
|
$500,000-999,999 |
3 |
4 years |
|
$1 - $1.99 million |
5 |
5 years |
|
$2 - 2.99 million |
6 |
6 years |
| $3 - 3.99 million |
7 | 7 years |
| $4 - 4.99 million |
8 | 8 years |
| $5 - 5.99 million |
9 | 9 years |
| $6 - 6.99 million |
10 | 10 years |
| $7 - 7.99 million |
11 | 11 years |
| $8 - 8.99 million |
12 | 12 years |
| $9 - 9.99 million |
13 | 13 years |
| $10 - 10.99 million |
14 | 14 years |
| $11 - 11.99 million |
15 | 15 years |
| $12 - 12.99 million |
16 | 16 years |
| $13 - 13.99 million |
17 | 17 years |
| $14 - 14.99 million |
18 | 18 years |
| $15 - 15.99 million |
19 | 19 years |
| $16 million and up |
20 |
20 years |