Expanding the homeownership development property tax exemption to include real property sold to low-income households for building residences using mutual self-help housing construction.
Summary
Expands the property tax exemption for nonprofit low-income housing development by including real property owned by a nonprofit entity who enters into an agreement with another nonprofit to build a residence through a qualified mutual self-help housing program.
From the House Bill Report (SB 6013), written by the Legislature's nonpartisan staff. Read the full report ↗
AN ACT Relating to expanding the homeownership development property tax exemption to include real property sold to low-income households for building residences using mutual self-help housing construction;