Homebuyer’s Property Tax Refund Program Incentives to End December 31, 2016

The Homebuyer’s Property Tax Refund Program is a new initiative to encourage investment in Rockford neighborhoods by rebating property taxes for three years on residential properties.

The program would offer purchasers of foreclosed or short-sale homes, as well as 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.

How does it work? Visit www.homebuyerstaxrefund.org for program guidelines and more detailed information.