From now until January 1st of 2026, home buyers who purchase and live in a home in the could be eligible for a $5,000 tax credit from the state.
LINCOLN, Neb. (KLKN) – After a vote through city council, future home buyers could benefit when buying homes in neighborhoods in Belmont.
“If you buy into the Belmont neighborhood and you live in that neighborhood, you would be eligible for a tax credit on that home that would come from the state of Nebraska,” Dan Marvin with Urban Development said.
From now until January 1st of 2026, home buyers who purchase and live in a home in the could be eligible for a $5,000 tax credit from the state.
It’s all thanks to a bill passed in 2019 in Nebraska and now the city approving the Belmont area as extremely blighted. The goal of labeling something as blighted is to help encourage people to buy homes rather than rent.
“What we’ve been seeing happen over the last many years here is that all cash buyers have been able to go in and purchase a home and that home then can become a rental. Nothing wrong with that, but I think what the legislature was looking at was, is there a counterbalance that we can do against that?” Marvin said at a City Council meeting.
Last year, the city declared multiple locations as extremely blighted with this goal in mind, and they are still aiming for more.
Including areas like air park, and some that are not residential like the meadow lane shopping center.
The council did decide to post pone a vote on air park until their next meeting.
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