Builders of Hope Launches Property Tax Assistance Pilot Program to Aid West Dallas Homeowners
Builders of Hope Community Development Corporation (BOHCDC) is launching a pilot Property Tax Assistance Program (PTAP) to support long-time West Dallas residents facing displacement due to rapidly rising property taxes. This initiative aims to provide immediate relief to legacy homeowners in the 75212 ZIP code, ensuring they can remain in their homes amidst the area’s rapid development.
Addressing the Challenge
West Dallas has experienced rapid development and escalating property values, leading to significant increases in property taxes. These rising costs pose a severe threat to long-time residents, many of whom are at risk of displacement. The PTAP aims to counteract this trend by offering financial assistance to eligible homeowners, thereby promoting stability and community continuity.
Program Details
The PTAP pilot will offer $150,000 in tax relief to select qualifying West Dallas home owners during its initial phase, with a long-term goal of raising $1 million to expand the program. The assistance will cover year-over-year incremental increases in property taxes for qualifying homeowners, helping them manage their financial burden.
Eligibility Criteria
To qualify for the PTAP, homeowners must meet the following criteria:
Residency: Must have lived in the 75212 ZIP code for at least 10 years or have inherited a home from an immediate family member who lived within the boundaries for 10 or more years.
Primary Residence: The property must be the applicant’s primary place of residence, and the homeowner must have or be eligible for a homestead exemption.
Income: Annual household income must not exceed 80% of the area median income (AMI).
Priority will be given to cost-burdened households, those who have lived in the area for over 20 years, and homes built before 2012.
Community Support and Outreach
The PTAP is supported by an array of partners, including JPMorgan Chase, The Dallas Foundation, Wesley Rankin Community Center, Trinity Park Conservancy, and Lukirain Partners Fund at The Dallas Foundation.
How to Apply
Interested homeowners can apply by contacting Johana Miranda, Housing Services Coordinator, at johana@wesleyrankin.org or (214) 742-6674 x 113. Applications can also be completed in person at the Wesley Rankin Community Center, located at 3100 Crossman Ave., Dallas, TX 75212. Applications are open until the end of the year or until funding is exhausted.
Looking Forward
The PTAP pilot represents a significant step towards ensuring that long-time residents of West Dallas can remain in their homes and enjoy the benefits of their community. Builders of Hope is committed to continuing its efforts to support and uplift the residents of West Dallas, and with the community’s help, aims to secure a brighter future for all.