January 31, 2011

New Economic Incentive Program Encourages Arlington Homeowners to Make Property Improvements

The Arlington Board of Realtors and the City of Arlington announce a new economic incentive for homeowners who make substantial, capital improvements to their property.
According to Community Services Interim Director David Zappasodi, homeowners who participate in the Arlington Home Improvement Incentive Program may receive a financial incentive in the form of a rebate.

The amount of the rebate is based on the amount of increase in the city portion of their property taxes following the completion of home improvements.

If a homeowner’s city property tax were to increase by $200 following the completion of the improvements, the homeowner would receive $2,000 or ten times the amount of the increase as a rebate from the City of Arlington, Zappasodi said.

According to Arlington Board of Realtors President and CEO Larry Johnson, the City of Arlington and the Arlington Board of Realtors worked together to develop a program to encourage homeowners to improve residential property conditions, to make energy efficient home improvements, and to positively affect the value of residential housing in Arlington.

All Arlington homeowners are eligible to participate in the program, except those who are delinquent in taxes or other fees due to the City.

To qualify, the improvement project must cost at least $20,000, be made to a single-family home in Arlington, and completed within 24 months of project approval.

Participating homeowners are required to submit an application to the Housing Authority of the City of Arlington prior to making improvements. Homeowners must also provide a cost estimate for the improvement project, consent to periodic inspections during construction, and verify final construction costs.

To learn more about the Arlington Home Improvement Incentive Program and how to participate, visit www.arlingtontx.gov/housing/homeimprovementincentive.html or www.arbori.com. Interested homeowners can also e-mail Nicolette.Arceneaux@arlingtonhousing.us or call 817-276-6740 for more information.