If you have been waiting to make those costly upgrades to your home, it’s time to make it happen. The Arlington Home Improvement Incentive Program is in place to help you pay for capital improvements and energy efficient renovations.
How does it work?
A one-time rebate equal to 10 times the amount of the increase in City taxes will be paid to the homeowner based on the property’s pre-improvement and post-improvement appraised value. For the purposes of this program, the Tarrant County Appraisal District will determine the home’s certified value.
The rebate will be paid to the homeowner pursuant to the Incentive Agreement after April 1 of the first full calendar year after completion of the approved project. Rebates will be paid up to a maximum of $5,000 per dwelling.
If, for example, a home improvement project is approved in March 2012 and completed in August 2012, property tax value would be calculated before and after the improvements. If the difference in property tax totals $200, the homeowner would receive $2,000, which is 10 times the increase in taxable value improvements.
Am I Eligible?
To be eligible, homeowners must meet the following requirements:
- The homeowner must own the home, which must be located in the City of Arlington.
- The homeowner cannot be delinquent in taxes or other fees.
- Projects involving the reconstruction or remodel must cost at least $20,000 and be completed within 24 months of project approval.
- The homeowner must submit an application to the Community Development and Planning Department of the City of Arlington prior to improvement, and provide a cost estimate for the improvement project, consent to periodic inspections during construction and verify final construction costs.
- The homeowner must execute an Incentive Agreement with the City of Arlington.
For information guidelines and application forms, visit www.arlingtontx.gov/planning/hiip.html
For additional information, please contact Steve Quirk at 817-459-6501 or Steve.Quirk@arlingtontx.gov