Real Estate Incentives (click to expand)
York has multiple ways to promote living within the city limits. See if you qualify for one or more of these great incentives.
Join the Real Estate Revolution
Take advantage of this historic opportunity. The City of York boasts historic Victorian and eclectic architecture priced from the $60,000s. Stake your claim in this Renaissance City that is an investor and housing rehabber's paradise. Enjoy a high quality of life with a low cost of living and big city amenities.
PeoplesBank 'Back to the City' Program
A Citywide program provides guaranteed financing at below-market rates. For more information contact 888-846-1970.
HOME Initiative
The York City Home Owners Maximizing Equity program is a Citywide effort that ensures a benchmark appraisal of a property, regardless of ultimate sale price. Eligible to single-family owner occupied homes, or two units that are owner occupied. If, after 5 years, a home were to depreciate, the HOME fund will reimburse the owner the difference.
York College Employee & Young Alumni Homeownership Program
The assistance provides $6,000-8,000 or 15% of the purchase price per employee/alumni for eligible properties in the city. For more info contact 717-815-1500.
First Time Homebuyer Initiative - The 3/2 Program
Provides payment & closing cost assistance for first time homebuyers. Contribute 3% of selling price towards down payment, receive 2%. Eligibility based on completion of homebuyer education classes. For more information contact 717-854-1541.
Artist Homestead Program
A Citywide program that provides financial and amenity incentives for artists to move to the City of York and establish a live/work studio. 717-849-2290.
RETAP
The York City & County Residential Tax Abatement Program (ReTAP) provides for a 100%, ten year tax exemption on the value of new residential construction or residential rehabilitation. This incentive runs with the land for 10 years; therefore, if the property owner should change the incentive remains under full valuation in year eleven.
The companion York School District ReTAP provides ten year phased out exemptions: 100% in year one, 90% in year two, 80% in year three and so forth until a 10% abatement is granted in year ten for the value of new construction & rehabilitation of houses & condominiums.
LERTA
The Local Economic Revitalization Tax Abatement (LERTA) program provides ten year phased out exemptions: 100% in year one, 90% in year two, 80% in year three and so forth until a 10% abatement is granted in year ten for the value of new construction of houses & condominiums. Abatement applies to all three taxing entities, city school district, city, and county, and applies to commercial and retail-related new construction and rehabilitation projects.
This incentive runs with the land for 10 years; therefore, if the property owner should change the incentive remains under full valuation in year eleven.
