03-04-2011, 04:57 AM
1. owner-built (owner builder): including no sell, rent, or lease for at least 5 years.
As long as property taxes are not increased for the SAME period
Property tax changes are a different matter, happening for unrelated reasons. The point of the 'no sell/rent/lease' requirement is to ensure that only owner/builders are doing this type of building and that it is not being used for spec-houses and 'flips'.
They might be, but if taxes are increased beyond what the owner can bear, what happens? A lot can happen in five years.
I'd be more in favor of something like two years.
James, Thanks for taking the time to respond.
As long as property taxes are not increased for the SAME period
Property tax changes are a different matter, happening for unrelated reasons. The point of the 'no sell/rent/lease' requirement is to ensure that only owner/builders are doing this type of building and that it is not being used for spec-houses and 'flips'.
They might be, but if taxes are increased beyond what the owner can bear, what happens? A lot can happen in five years.
I'd be more in favor of something like two years.
James, Thanks for taking the time to respond.
Puna: Our roosters crow first