The Great Update Rebate
Any deposits or down payments paid and/or any work started or completed prior to an approved application, completion of a city inspection, and issuance of a Notice-to-Proceed will not be eligible for the Great Update Rebate. There are no exceptions for this policy.
The Great Update Rebate program was created to assist Plano homeowners with the financial burden of caring for older homes in the City. This popular program won the 2016 City Livability Award from the U.S. Conference of Mayors. More than $2.5 million has been dedicated to this program since inception (2014), which will be distributed to program participants in the form of a rebate. Enter your address on the interactive map Opens a New Window. to see if your property is eligible for The Great Update Rebate program.
- Single family houses, duplexes, townhouses and condominiums qualify
- Houses 35 years or older
- Any occupancy and ownership qualifies (Owner-occupied, tenant-occupied or vacant)
- Current on taxes and insurance
- The County Appraisal District (CAD) Opens a New Window. appraised market value of the property must be less than or equal to 85% of the FHA single-family mortgage limit for Collin County for the current year. Year 2020 FHA limit of $404,800 * 85% = $344,080 maximum property value for 2020.
- Both interior and exterior improvements qualify, with exceptions noted below under “INELIGIBLE”
- Minimum property improvements must be at least 10% of the CAD appraised market value or $20,000, whichever is less. For example, a $150,000 property must have a minimum investment of $15,000 to qualify. A $250,000 property must have a minimum investment of $20,000 to qualify.
- Qualified updates may start only after receiving a Notice To Proceed from the City (this includes deposits, down payments and purchased items).
- Complete within three months of start, although extensions are allowed with demonstrated need
- Must result in a livable unit
- Repairs to individual condominium units not covered by the property owner association
- Landscaping is eligible only per plan approved by the City’s Landscape Architect
- New pools, hot tubs, spas and water features
- Any landscaping plan that includes the following:
- Plants that are not native or naturalized; prefer Texas Smartscape plants
- Irrigation system that does not allow plants to become established under current water restrictions at the time of plan approval; may require drip irrigation or soaker hoses
- Repair or replacement of sprinkler systems lacking digital controllers with functional rain and temperature sensors
- Detached accessory structures
- Garage enclosures
- Exterior improvements or other items covered by the HOA for condominium units
- Any project started before receiving your Notice to Proceed is ineligible for the rebate (this includes deposits, down payments and purchased items)
- $5,000 limit per property per 12 months (from the date of the Notice to Proceed letter)
- 25% rebate on exterior improvements
- 10% rebate on interior improvements
- All improvements must be completed once agreement is signed, or the project is wholly disqualified; no partial rebates
- Once the project is complete, to request the rebate check (Final Step), please submit the required forms and documents as listed in the Rebate Request Checklist Opens a New Window. .