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March
17
17
THE CITY OF ROCKFORD HOMEBUYER'S PROPERTY TAX REFUND PROGRAM
[caption id="attachment_1677" align="alignright" width="359"] THE CITY OF ROCKFORD HOMEBUYER'S PROPERTY TAX REFUND PROGRAM[/caption] A broad coalition of leaders from Rockford-area taxing bodies, along with the Rockford Area Association of Realtors, today announced a new program to encourage investment in Rockford neighborhoods by rebating property taxes for three years on residential properties. [caption id="attachment_1678" align="alignright" width="475"] News Conference Agenda - 3/17/2016[/caption] The Homebuyer's Property Tax Refund Program would offer purchasers of foreclosed or short-sale homes, and newly-built homes in the City of Rockford, a property tax refund for three years. The refund, issued at the end of each tax year in a lump sum, would cover up to 100 percent of the owner's property tax bill, if all taxing bodies approve the program. Homebuyers must be under contract by December 31, 2016. The program is being presented for adoption to the 11 taxing bodies found on a typical tax bill in the City of Rockford. Properties would be eligible for refunds from the taxing bodies that approve the program; currently 80 percent of a typical Rockford homeowner's property tax bill is paid to the Rockford Public Schools; City of Rockford; and the Rockford Park District. Other eligible taxing bodies include: - Chicago Rockford International Airport - Rock River Water Reclamation District - Rock Valley College - Rockford Public Library - Rockford Township - Rockford Township Highways - Winnebago County - Winnebago County Forest Preserve How does it work? Check out the infographics and visit http://www.homebuyerstaxrefund.org for more information. Â
Posted by City of Rockford Government on Thursday, March 17, 2016