Do you qualify?
The Newly Built Home Exemption, updated on April 9, 2024, reduces or eliminates property transfer tax for qualifying principal residences.
Partial Exemption: Homes valued slightly above $1,100,000 may receive a reduced exemption, with the benefit completely phased out at $1,150,000.
Full Exemption: As of April 1, 2024, homes valued up to $1,100,000 qualify for a full exemption (increased from $750,000).
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