Important Tax Exemption for Builders

Don’t Leave Money on the Table!

Builders: Do you have inventory for the sale of a single-family or duplex house, or land which you have improved for residential or commercial purposes? If so, you are eligible to have the value of these improvements exempted from local property taxes

This exemption also applies to single-family and duplex houses under construction or land currently being developed.

Currently, a builder is required to file for this exemption every January in the tax office where the property is located. Starting this year, once the exemption is filed in January of 2020, you will not need to file again for that property in 2021 (or 2022) if it still qualifies for an exemption.

Click here for more information and details on this law

Don’t leave your money on the table! Apply for this exemption by January 31.  

FOR MORE INFORMATION: Contact Mike Carpenter, mcarpenter@nchba.org, or Tim Minton, tminton@nchba.org, or call NCHBA at (800) 662-7129.

*Content from NCHBA