Builder Property Tax Exemptions

Excludes from taxation the increase in property value attributable to:

• Subdivision of a parcel for future residential construction
   
• Non-structural improvements (grading, streets, utilities, etc.) for future residential construction
   
• Construction of a new single-family home or duplex

The property must continue to be owned by a builder, not occupied by a tenant, and not used as a model home or for any other commercial purposes. The exclusion is limited to 3 years from the date the property was first subject to be listed by the builder. 

Commercial property may benefit from the exclusion:

• For a maximum of five years, but the exclusion covers only the increase in value attributable to subdivision or non-structural improvements
   
• Any improvement requiring a building permit terminates exclusion eligibility