THE BIG BUILD
The need to expand housing opportunities throughout the county is critical in addressing the county’s workforce needs. There is limited projected population growth in Otter Tail County, with Otter Tail County currently lagging the growth of peer counties. With the limited growth and the continued aging of the overall population, there is projected to be a 4.6% reduction in the available labor force in Otter Tail County from 2020-2030.
For the past several years, Otter Tail County has made an intentional investment in rural rebound efforts to make the county front and center when people are looking for a place to relocate, especially within their prime working years.
However, there is a low supply of housing to meet the needs of newcomers or existing residents seeking options. To spur the growth of new housing and the reinvestment in existing housing, the County’s Community Development Agency has launched the Big Build.
SINGLE AND TWO FAMILY PROPERTY TAX REBATE PROGRAM
Otter Tail County has approved a program to encourage new investment in single and two family homes. The goal is to open up lower value, existing home stock to new home buyers as well as increase the tax base through a rebate of property taxes on newly constructed homes.
Program overview:
Rebate of the County’s portion of the property tax, along with the City’s portion in participating cities (currently Fergus Falls, Henning, New York Mills, Ottertail, Parkers Prairie, Pelican Rapids, Perham and Vergas), based on the increase to real estate taxes as a result of building a new home
Provides up to $10,000 in rebate in five years ($5,000 throughout the county plus $5,000 if residence being built is located in a participating city)
Primary residences only (no seasonal owners)
Rebate paid to the owner of record in December of the year, transfers with sale of the property
Approval must be received before construction begins
Applicant can be future homeowner or builder/developer
Bigbuildotc.com has the full program guidelines and application.