Harmony offers up to $20,000 to build in town
HARMONY, Minn. (KTTC) – The City of Harmony and its Economic Development Authority (EDA) are excited to announce that recipients of Harmony’s popular home incentive program will now qualify for up to $20,000 cash. Anyone building a new home in Harmony, on a qualified lot, or those renovating a seriously dilapidated home can qualify for the cash rebate.
There are no income limits, residency, or age restrictions to qualify. Rebates range from $1,500 to $20,000 cash, depending on the final taxable value of the qualified building. In order to qualify for a $20,000 rebate, the taxable value of a new home must exceed $500,001.
In addition to new home construction, rehabilitation of dilapidated homes also qualifies provided that it creates new living units in the community and increases the building’s taxable value by at least $40,000. General repairs or improvements do not qualify.
The original program was started in 2014 and awarded up to $12,000 to new homes built with at least a $125,000 taxable value. The new program expands on this successful program. Harmony was one of only three cities in Fillmore County to see population growth in the 2020 Census. To date the program has created 19 new units in Harmony, added over $3.3 million in new tax base, attracted new residents, and gained national and international media attention.
Like before, applicants fill out a one-page form and submit it to the Harmony EDA, along with the estimated taxable value of the proposed building which must be obtained from the county assessor’s office. Applicants will need to know the location of their lot and have a building plan completed for their home in order to finish the rebate application.
The goal of this program is to increase the inventory of living units in the community, maximize existing public infrastructure and service investments, and grow the population of the city in support of our robust local economy. Most lots in Harmony qualify, but there are exceptions. Please talk with the Harmony EDA at 507-886-2846 for more details, questions, rules, or any help with the application.
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