Urbana is making a strong push to strengthen new construction sales and growth in residential homes with “Think Urbana”.
The Think Urbana program provides new home builders/buyers with a reduction in real estate taxes and sales tax on the construction of new homes.
In a nutshell, new home buyers receive 60% off their real estate taxes through the first 5 years of home ownership and also pay no sales tax on the construction materials purchased in Illinois for their home. The builder needs to handle a bit of extra paperwork to be eligible for the tax savings but the end result is a major savings for the home owner.
Last month we helped clients with a new home involving ‘Think Urbana’ and the City of Urbana employees were very helpful with questions. If you are thinking about taking advantage of this program keep in mind it is very important to have your home builder involved from the beginning. Make sure you understand the details and responsibilities before signing a contract.
Luckily, this is where we can help you! The Waldhoff Gard Team is excellent at guiding our clients through the new construction build process and we also take the time and stress out of the process by investigating questions and opportunities for you.
Specific areas of Urbana are listed for eligibility. If you have questions or would like more info you can check out ThinkUrbana.com or call our team at 217-817-0123.