Commercial Property In Mayville-Portland
Mayville-Portland has excellent land available for your company expansion or relocation – and there is plenty of room to grow when the time comes. Best of all, our packages and programs can be customized to ensure that you get a great price that lets you concentrate on building your business rather than struggling to make payments. We also have many existing properties that may be a perfect fit for your company, and many of them include special incentives to make your investment easy and profitable. For example, check out the information about our renaissance zone included below.
Mayville Renaissance Zone
Mayville has a Renaissance Zone that can provide additional incentives for businesses as well as homeowners.
The Renaissance Zone designates 26 contiguous blocks where local and state incentives are available for current and potential zone residents. The incentives are offered when those current or potential residents improve the quality, appearance and value of their properties located in the zone.
For more information on the Renaissance Zone, contact the Mayville City Auditor at 701-788-2166.
Requirements and benefits of a Renaissance Zone project:
- Located in a 26-block contiguous area starting with downtown and working out.
- Rehabilitation projects in the Zone will qualify for property tax breaks and North Dakota state income tax breaks.
- Property tax breaks up to 100% for five (5) years.
- State income tax breaks up to 100% of income tax liability on income from business in the Zone.
- Significant state income tax breaks for residential projects in the Zone as well.
- Both residential and commercial property may be eligible.
- Application process begins by contacting the Mayville City Auditor for an application form. All applications need to be approved by the local Renaissance Zone Authority, then the Mayville City Council, and finally the North Dakota Department of Commerce, Division of Community Services.