This could be the proverbial “free lunch” – from City Hall no less – but by no means is this altruism. Newport Beach aptly recognizes the overall community and tax benefits from such prudent self-investment. Remodeled homes can, in some circumstances (additions, etc.), trigger a tax reassessment, thus pouring more money back into the City. Regardless of any immediate revenue, as upgraded properties are sold, the values (and corresponding tax-basis) will increase.
The program is titled, “The Newport Dividend.” Fees will be waived for plan check reviews (including building, planning, public works, and fire prevention), building permits, and encroachment permits. The Dividend program applies to the alteration and/or remodel of existing single-family and existing duplex homes for up to one million dollars ($1,000,000) in improvements per home. Newport Beach homeowners interested in taking part of the Dividend program waiver have until December 12, 2014 to submit plans and permit applications.
Types of projects that are eligible for the Dividend program for existing single-family and duplex homes include but are not limited to:
– Residential remodels
– Water heater replacements
– Light & plumbing fixture replacements
– Solar panels
– Retaining walls
– Window replacements
– Patio covers
– Repair or alterations of piers & docks
Types of fees that are waived:
– Plan review
– Building Permit
– Encroachment Permits
– Fire Department Review
Types of fees that are NOT waived:
– Business License
– Other agency fees
For questions about The Newport Dividend program fee waiver, please call the City’s Permit Center at 949-644-3200.
City of Newport Beach
Author Devin R. Lucas is a Real Estate Attorney, Broker and REALTOR®, specializing in Newport Beach, Costa Mesa and Orange County, serving individual, investor and small business interests in real estate. Active with the Newport Beach Association of REALTORS® and Costa Mesa Chamber of Commerce, Devin R. Lucas Real Estate is an independent real estate brokerage and law practice located in Newport Beach, California.
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