FAQ Topic: New Construction Incentives

At a Glance Benefit: Exemption of up to $150,000 in true and full value, exclusive of land, for the first two taxable years after the taxable year in which construction on the residence is completed and the residence is owned and occupied for the first time by the homeowner-buyer.Eligibility: Must be new single-family residential property that … Continued

At a Glance Benefit: Exemption of up to $150,000 in true and full value, exclusive of land, for the taxable year in which construction on the dwelling began and the next two taxable years. The taxable year in which construction of a modular or other off-site-built residence began is the year in which construction of the … Continued