When you are building a home, an extra $30,000 comes in handy, right? Very handy. That could cover carpet, extra landscaping, or your new decked-out refrigerator.
And $30,000 is about how much the City of Farmers Branch will pay — yes, I said PAY — homeowners who buy the city’s aged housing stock, tear it down, and build anew through the city’s unique Demo/Rebuild program. The city offers a cash grant that is based on the value of the home you tear down; the grant edges higher for less expensive homes). Farmers Branch will also offer a discount on property taxes for a certain length of time, depending on how much the difference is between the two homes’ property tax appraisal. It’s really a taxpayer’s dream: an incentive program that actually puts taxpayer dollars back into the hands — and homes — of taxpayers. (more…)