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100% of the Lifestyle. 40% of the Taxes.

Baltimore City just approved a 10-year tax credit for Alta47 townhomes! This savings equates to a 60% reduction in overall property taxes, making the lifestyle at Alta47 more affordable than ever.  

What does this mean for me?

Major savings each month. Massive savings for the year. Zero paperwork.  

How does this work?

Alta47 townhomes now automatically receive a 70% reduction in Baltimore City Taxes on the improved value of the home, which equates to a 60% reduction overall in property taxes for 10 years.

Total property taxes are comprised of city and state taxes, with the majority going to the city. The Baltimore city tax rate is 2.248%, applied to the final assessed value of the home. The tax credit at Alta47 allows for a 70% reduction in city taxes based on the improved value of the home (improved value equals the final assessed value after the home is constructed minus the initial land value). Our New Home Advisors will walk you through the details for your specific townhome, but this credit equates to a 60% reduction in your overall property tax payments.

What do I have to do to qualify?

Nothing! The credit is automatic. Your tax bill will automatically reflect the discounted amount beginning on January 1, 2018. There is no additional paperwork or forms to fill out – everything has been taken care of for you. Also, if you sell your Alta47 home within the next 10 years, this credit even transfers to the new owners—a great selling point!

We have even more great news - your lender will qualify you using the lower tax amount, allowing you to qualify for a higher sales price. It’s like getting a raise you didn’t expect!  

So, what are the savings?

On a $600,000 townhome, the credit equates to a savings of $730/month*, or over $8,700/year! Saving $730 a month in taxes means that you can now afford $150,000** more house for the same payment. Hello, buying power.  

This is a Baltimore City Tax Credit. Final calculations will be determined by the city of Baltimore.
*Assumes final assessed value equals sales price
**Assumes 30-year FRFT mortgage @ 4%