Homebuilders in Mandan receive a two year tax break for $75,000 for their first home or condo.
The Mandan City Commission met today to discuss the future of the incentive.
City commissioners discussed whether the tax break attracts homebuyers to Mandan and if the decline in state funding should impact the program.
The Bismarck-Mandan Homebuilders Association says the exemption makes housing affordable, and that the tax break should be raised to $150,000.
"So 1992, the average home price was 54,000. Fast forward to 2016, and the average price of existing inventory was $236. Our incentive remains the same, which is $75. We're appreciative of anything that can encourage home ownership because home ownership has profound effects on the community," says Dot Frank, Bismarck-Mandan Homebuilders Association.
The City Commission voted to table the issue until January 2017.