Buy a distressed house — or build a brand new house — in the City of Rockford between March 17th and December 31, 2016.
Pay your property taxes as normal.
The City of Rockford pays back those property taxes in a lump sum at the end of the year — every year for three years.
That is, single family homes that have recently undergone foreclosure and are currently empty or short sale properties, in the City of Rockford and Rockford School District.
In other words, any home that you decide to build yourself, in the City of Rockford and Rockford School District.
If you’re unsure whether the house you’re interested will qualify, check with your Realtor or call the City of Rockford Finance Department at (779) 348‐7470 or (779) 348‐7467 to find out.
Through the program the City of Rockford, Rockford Public Schools, Rockford Park District and other governmental units are hoping to revitalize the market for foreclosures and new single-family home construction, especially in and around Rockford Public Schools, an area recently designated a Next Generation Learning Community by the Ford Motor Corporation.
The ultimate goal of the Homebuyer’s Property Tax Rebate Program is to enliven our housing market, strengthen our communities, and create a stronger tax base — which in the end lowers taxes for all the citizens of Rockford.