1013 Ann Street, Newport, KY 41071

Property Description

What if your property tax bill never went up? At Ann Street Limited, it won't for 30 years. Your home's taxable value is locked at the price you pay, and your tax rate is locked at $7.00 per $1,000 through 2056, about half of Newport's current rate of $13.60. What does that mean? At the $589,900 list price, that's a fixed $4,129 a year in property taxes, compared to about $8,023 at Newport's current rate, a savings of $3,893 in the first year alone. As taxes on other homes rise with regular reassessments and rate increases, the gap keeps growing, for a projected total savings of more than $414,000 over 30 years. The savings stay with the home, not the owner. If you sell, the same locked-in value and rate transfer to your buyer for the rest of the original 30-year term, giving your home an advantage other resale homes can't match. Each home offers 2+ bedrooms and 2+ baths, with up to 2,200 sq ft of potential living space. The main level has an open kitchen, living and dining area plus a first-floor primary suite with full bath. Upstairs, you'll find a second bedroom with an en suite full bath and a flex room that opens directly onto a private 300 sq ft rooftop deck with downtown Cincinnati skyline views. The lower level has egress windows and a full bath rough-in, ready to become an additional bedroom and bath, office or gym. Off-street parking and an EV charger come standard, and early buyers can still choose cabinetry, countertops and other finishes. Tax benefit provided through an IRB/PILOT agreement, which governs all terms. Savings projections assume a $589,900 price and annual increases in assessed value and tax rate for homes without the program; actual savings will vary and are not guaranteed. Buyer to verify all information, including tax details with their own tax professional.