An eligible applicant must:

• Be a United States citizen or legal resident alien
• Own and occupy a single-family dwelling located within the city limits of Carrollton, Texas.
• The home is located within a Neighborhood Empowerment Zone. A map of the Neighborhood Empowerment Zones is available here.
• Have the home situated on a legally platted lot zoned for single-family detached housing
• Occupy the home year-round as a principal residence

Additional Requirements:

• A homebuilder may qualify for this program, provided that the rebuild incentive will be paid to the first owner occupant of the newly constructed house
• All City utility payments and property taxes must be current
• An application must be submitted and the full application process followed
• The property must not be under Property Standards Board enforcement or in foreclosure
• Demolition must be completed within 12 months of City Council grant approval
• Reconstruction must be completed within 24 months of City Council grant approval
• An incentive agreement must be approved by the City Council before any demolition begins

Program Criteria 

• Demolition incentives will be paid on an invoice-reimbursable basis upon completion of the demolition
• Demolition of the existing house and completion of a new house must occur within 24 months of City Council approval of the incentive agreement
• Rebuild incentives will be paid in a lump sum upon approval of the final inspection by the City of Carrollton

Determining Construction Value

• Construction Value: Assessed at the time the building permit is issued.
• New Value Calculation:
  •  The difference between:
    • The value of the new construction (excluding land), and
    • The value of the existing structure, as determined by the appraisal district in the year the incentive agreement is approved.

Example Incentive Calculation

Example 1:  $350,000 (new value, excluding land value) and $50,000 (existing value, excluding land value) 

$350,000 – $50,000 = $300,000 
$300,000 – 20% = $240,000 taxable homestead value 
$240,000 x $0.612875/$100 valuation = $1,471 municipal ad valorem tax 
$1,471 x 10 = $14,710 total lump sum cash incentive + applicable permit fee waivers