Under the Homebuyer Opportunity Limited Tax Exemption (HOLTE) Program, single-unit homes receive a ten-year property tax exemption on structural improvements to the home as long as the property and owner remain eligible per program requirements.
Property owners are still responsible for payment of the taxes on the assessed value of the land during the exemption period. The property is reassessed when the exemption is either terminated for noncompliance or expires after the ten years, and owners begin paying full property taxes. The exemption period cannot be extended.
The proposed home will be:
- New construction located within the City of Portland
- Single-family home, townhome, or condominium
- Must have at least three bedrooms
(Two-bedroom homes may be eligible if located within approved transit-oriented areas. See Two-Bedroom Eligibility Areas.)
Home builders, please see Property Eligibility for additional criteria that apply to this exemption.
Potential homebuyers can view a current list of HOLTE-approved properties under Eligible Properties, lower on this page.
The allotment of 2020-2021 HOLTE Builder Applications are available. No more than 100 applications will be approved per fiscal year. Special exceptions are available for affordable housing. More about the annual cap.
Sale price cap: $412,000
Builder application fee: $850
Homebuyer processing fee: $900
Who pays this fee?
Homebuyer income limit: 100% MFI - Median family income is set at a family of 4, increasing for households larger than 4.
(Nonprofits, generally 80% MFI)
Properties with approved builder applications for HOLTE, as of April 2021.
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