Attention Remodelers: There’s a Home Improvement Incentive Program available for Richardson,TX Residents
I meet with people every week who want to remodel their homes. Some repairs/remodel derive from necessity: a plumbing leak, age/condition, etc. Other remodels are based on homeowners wanting to update their home for aesthetic purposes. Yet another reason to remodel is a lifestyle change: growing family, “Aging in Place”, surgery. No matter what the motivation for the remodel or repairs, in the City of Richardson, there is a program in place that helps homeowners offset the cost of the work. There are parameters to qualify for the Home Improvement Incentive Program, but they are simple to identify. The Home Improvement Incentive Program, or HIIP for short, allows you to get a tax rebate check after having certain remodel or repair work done on your home in excess of $20,000.00. During a 2-year time frame, you may have multiple projects completed (that fall within the Program parameters). The culminating cost of the work must exceed $20,000.00. When the work is completely done, your home is inspected by a Dallas or Collin County Tax Assessor and your property value is re-assessed. The difference between the “before” property value and the “after” value is then entered into a specific mathematical formula and tax base to calculate the refund. It can take up to a year, after the last part of the work is completed, to receive your incentive check. To investigate the details of the program go to City of Richardson, TX : Home Improvement Incentive Program
The purpose of HIIP is three fold. The first prong is to protect you, the homeowner. Through this Program, the City can require the projects to be permitted and therefore inspected by city officials, making sure it passes current building codes. In order for a Contractor to apply for a permit in Richardson, they have to be “registered”. While it is an easy process, some contractors choose not to “register” with a city unless required. Richardson is not the only City that requires this, but through HIIP, the City of Richardson can weed out the Contractors that want to work under the radar.
The second prong is to promote quality repairs. By permitting the job and inspecting it when completed (in order to determine the increased property value), the City of Richardson is encouraging homeowners to hire quality, professional, ethical contractors. If they do not know or follow building codes they will not pass inspections and their final result will be a disappointing re-evaluation of their property value. On the other hand, if homeowners hire quality contractors and make significant improvements to the property, it not only adds value for the individual property, but it adds to the value of the neighborhood and therefore the City. This tends to be contagious, encouraging neighbors to make similar quality repairs and upgrading to their home.
The final prong is to persuade homeowners to stay in Richardson. If people repair and remodel their homes, they are likely to stay in Richardson. If they stay, they will invest in the City. If the property values stay healthy then the quality of life for the citizens of that city tends to be very good. Property values and quality of life affect the school system, the arts and entertainment and the city services (Fire, Police and EMS).
Basically, the HIIP is a way that homeowners can benefit financially for living in Richardson and improving their property value. We are paying for the work to be done anyway, so why not take advantage of the HIIP to put some money back in your pocket?
BRY-JO Roofing and Remodeling is located in Richardson, but we work in all the surrounding cities: Plano, Garland, McKinney, Allen, Dallas, etc. No other city has a home repair incentive program. The City of Richardson is forward thinking and has significant resident awareness. Other cities have researched the HIIP in consideration of starting something similar in their cities, but so far none have been able to institute it. Take advantage of what Richardson has to offer.