The city of Denver announces that qualified new home construction will be eligible for a complete property tax exemption until December 31, 2016. New construction on vacant land completed by the deadline will receive a 100% tax abatement for a select number of years based on the home’s value.
Property Valuation Years of 100% Tax Abatement
$0 – $150,000 3 years
$150,001 – $250,000 4 years
$250,001 – $350,000 5 years
$350,001 – $450,000 6 years
$450,001 + 7 years
In addition to the tax abatement, the city of Denver will reimburse building permit fees up to certain amounts, based on the value of the home being constructed and waive all hook-up fees up to $500 per home.
This announcement comes on the heels of the city of Denver launching the new logo and plans to unveil the new website in the near future.
Larry Farley, City Administrator, says, “We’re serious about new families investing in Denver. We love our community and want to share it. These incentive may be the extra something that prompts new homeowners to explore what Denver has to offer.”