California First Time Homeowner Dream Act: defers property taxes for new single-family homes under 1,500 sq ft.

The California First Time Homeowner Dream Act defers property taxes for new single-family homes under 1,500 square feet and up to three bedrooms, intended for sale under $400,000 to first-time homebuyers. The property owner must request deferment within 30 days of receiving the first tax bill. Deferral ends upon ownership change or notification by the owner. The bill also outlines tax installment due dates and penalties for non-compliance.

California First Time Homeowner Dream Act: defers property taxes for new single-family homes under 1,500 sq ft.

The California First Time Homeowner Dream Act defers property taxes for new single-family homes under 1,500 square feet and up to three bedrooms, intended for sale under $400,000 to first-time homebuyers. The property owner must request deferment within 30 days of receiving the first tax bill. Deferral ends upon ownership change or notification by the owner. The bill also outlines tax installment due dates and penalties for non-compliance.