Davenport NOW Program
Homeowners buying a newly constructed home or rehabilitating an existing property in Davenport will have more time and more options with the Davenport NOW program. The City of Davenport will provide a rebate for 50% of the City’s portion of the taxes associated with the increase in assessed value from construction. This rebate can be taken in a single lump sum check, in multiple rebates over ten years, or invested in a 529 College Savings plan.
** Deadline for applications is within two years of when the first building permit is issued on a new project. Program expiration date is June 30, 2018.
- The assessed valuation must increase by at least $5,000
- A rebate is not calculated using the purchase price, cost of project or appraised value. Rebates are based on the taxes associated with the increase in assessed value from construction
- If the home is new, you must be the first owner-occupant (builders and previously rented properties are not eligible)
- Property must be within the city service area
For an increase in assessed value of $230,000, you would receive a total rebate of $5,826.25!