Building Homes Act

Summary

The bill lets city and county governments award a tax credit on property taxes for homes that are financed with a nonprofit mortgage and have a long‑term covenant that keeps the price affordable, even when the home is sold. The credit can reduce the tax bill by the difference between the full assessed value and the portion the homeowner owes on the first mortgage. It is intended to encourage the creation and preservation of affordable housing.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

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