Tuesday, February 14, 2012
The Wichita City Council has approved a program that would give people buying new homes a five-year tax rebate in hopes of stimulating the economy.
The program is called HOME (New Home Ownership Made Easy). The Wichita Area Builders Association WABA says about 50 local builders are on board. The program would allow people buying a new home in participating areas to get property tax rebates for five years.
WABA president Wess Gaylon says by putting this program into place it will help stimulate the market.
Tuesday's vote by the council is the first reading. It will vote on a second reading in a couple of weeks.