The Newton Housing Initiative, approved by City Council in 2014, provided incentives to home builders, real estate developers, property owners, and homebuyers to expand the quantity and, perhaps more importantly, the quality of our available housing inventory.
When you buy a new home in Newton, you will receive up to $10,000 cash plus a “Get to Know Newton" Welcome Package valued at over $3,000!
For single-family homes beginning construction in the City of Newton in 2020 and 2021 the following incentives will be offered:
- For homes valued at $180,000 or more, a $10,000 cash incentive and the Get to Know Newton Welcome Package.
- For homes valued between $100,000 and $179,999.99; a $5,000 cash incentive and the Get to Know Newton Welcome Package.
Please note: The home values that qualify for incentives DO NOT include land value.
Subject to the following rules:
- The incentive is provided at the time and place of closing on the permanent financing of the home.
- The value of the improvements (exclusive of land value) must be evidenced by an appraisal or assessment.
- The construction of the home must be fully completed, as evidenced by the issuance of a Certificate of Occupancy by the City of Newton. A radon remediation system shall be installed in the new home.
- New home construction with a value under $100,000.00 shall be eligible for tax abatement in accordance with the City-Wide Urban Revitalization Plan.