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A home buyer in Boston is being told to consider getting a $25 rebate off their home purchase, which could net them $500.
The $50 off-sale offer comes with a $75 annual fee.
The offer, which has been in place since May, was a response to the city’s latest budget, which was cut by $6 billion.
The city said the state’s plan to raise the sales tax by 15 percent on home purchases from $1,100 to $1.25 million would cost Bostonians between $2.5 million and $3.5 billion.
The city’s rebate comes with an annual fee of $50.
The rebate is good for a five-year mortgage, up to the mortgage limit, as well as an automatic payment to pay off the loan over a period of 10 years.
The annual fee is $25.
The new rebate also includes a $250 tax credit for $1 million or more of taxable income, which can be used to buy a $2 million home.
The rebate comes as Boston has seen a sharp drop in home prices, and many are wondering if the city has a solution to the affordability crisis.
The median price of a home in Boston fell to $5.4 million in April from $6.9 million in March, according to data from the Boston Housing Department.
The price of homes in the city have been rising in recent years, but have been on the decline for some time.
The discount on the $100,000 house, which is available to buy in a city with a home price index of over 100, is one of the most popular deals around.
The offer is available for the home’s sale price and is good through March 31.
In an email to Real Estate Investor, an advisor to the rebate said the rebate is a good way to increase home prices and help homeowners save money.
“In the last year, the city of Boston has increased the sales and property tax rate, created the new Rebate on Home Buying for Newcomers, increased the annual tax rebate to $25,000, and added more incentives to homeowners to purchase a home,” the email said.
“The rebates have proven to be successful for homeowners, increasing the market value of the home in the first few months of the year and providing homeowners with the best deal in Boston.”
We encourage all homebuyers to consider this rebate offer to help their home prices continue to increase and to help them maintain a solid home base,” the advisor said.
In addition to the $1 rebate, the rebate also offers the following benefits:The rebate is only valid on a new home purchase and can only be used once.