Tax Abatement on Private Single Family Homes?

[Bridget Conant]

I just noticed a Relief Properties flip on Mars advertised for sale at 479,900. Part of the sales pitch is that the home has Tax Abatement.

When were certain single homes granted tax abatement? How do these homes qualify for this abatement?

[Dan OMalley]

I just noticed a Relief Properties flip on Mars advertised for sale at 479,900. Part of the sales pitch is that the home has Tax Abatement.

When were certain single homes granted tax abatement? How do these homes qualify for this abatement?

1978. The homes must fall within certain census tracts, and do generally not apply to new construction but rather renovated homes. The value of the renovations must also meet a certain threshold.

[ryan costa]

it can get fancy.
https://finance.zacks.com/can-claim-los ... -1061.html