The Great Update Rebate
Plano City Council empowered the Neighborhood Services Department to create a program to assist Plano homeowners with the financial burden of caring for older homes in the City. More than $2,500,000 has been dedicated to this program since inception (2014), which will be distributed to program participants in the form of a rebate. Enter your address on the interactive map to see if your property is eligible for The Great Update Rebate program.
- Single family houses, duplexes, townhouses and condominiums qualify
- House is 35 years or older
- Any occupancy and ownership qualifies (Owner-occupied, tenant-occupied, or vacant)
- Current on taxes and insurance
- The County Appraisal District (CAD) appraised market value of the property must be less than or equal to 85% of the FHA single-family mortgage limit for Collin County for the current year. Year 2018 FHA limit of $386,400 * 85% = $328,440 maximum property value for 2018.
- Both interior and exterior improvements qualify, with exceptions noted below under “INELIGIBLE”
- Minimum property improvements must be at least 10% of the CAD appraised market value or $20,000, whichever is less. For example, a $150,000 property must have a minimum investment of $15,000 to qualify. A $250,000 property must have a minimum investment of $20,000 to qualify.
- Qualified updates may start only after receiving a Notice To Proceed from the City (this includes deposits, down payments and purchased items).
- Complete within three months of start, although extensions are allowed with demonstrated need
- Must result in a livable unit
- Repairs to individual condominium units not covered by the property owner association
- Landscaping is eligible only per plan approved by the City’s Landscape Architect
- New pools, hot tubs, spas and water features
- Any landscaping plan that includes the following:
- Plants that are not native or naturalized; prefer Texas Smartscape plants
- Irrigation system that does not allow plants to become established under current water restrictions at the time of plan approval; may require drip irrigation or soaker hoses
- Repair or replacement of sprinkler systems lacking digital controllers with functional rain and temperature sensors
- Detached accessory structures
- Garage enclosures
- Exterior improvements or other items covered by the HOA for condominium units
- Any project started before receiving your Notice to Proceed is ineligible for the rebate (this includes deposits, down payments and purchased items)
- $5,000 limit per property per 12 months (from the date of the Notice to Proceed letter)
- 25% rebate on exterior improvements
- 10% rebate on interior improvements
- All improvements must be completed once agreement is signed, or the project is wholly disqualified; no partial rebates