Bucks for Buncombe: How Residents Can Get Up to $500 Off Home Costs

Asheville is often known for its gorgeous getaway vibes and lush forests. Now, homeowners in this woodland paradise and throughout Buncombe County can get up to $500 off rising homeowner expenses.

The city of Asheville and Woodfin are funding an extension of the much-loved 2021 homeowner grant program that gave relief to pandemic-era woes.

But just because the pandemic is nominally over doesn’t mean the financial pain is too.

Growing Grants

In the first iteration of the grant program, more than 60% of applicants were approved to receive a total disbursement of $378,900 throughout Buncombe County. Keeping the grant going, Buncombe allocated more money in its 2023 fiscal year budget – but only $300,000 total, so residents are competing for a smaller pie.

Buncombe residents can get $300 applied to their property tax bills, and residents of Woodfin and Asheville are eligible for an additional $200 if eligible.

Eligibility

First, you’ll need to reapply even if approved in 2021. The process is the same as before, and residents have a few options to engage directly with county officials to apply:

  • Visit buncombecounty.org
  • Call 828-250-5500
  • Email [email protected]
  • Fax an application to 828-250-6235
  • Drop off an application in person at 40 Coxe Ave, Asheville NC 28801

Eligibility is like the 2021 program, but some changes include new offerings for mobile homeowners. Some of the criteria include:

  • Applicants must have owned and lived in their home for five years or more.
  • Their home must be their primary and only residence.
  • Their household income must be at or below 80% of area median income, which currently is $64,250 for a family of four, $57,800 for a family of three, $51,400 for a family of two and $45,000 for one person, according to a table published by the county.
  • Their household cannot already be receiving tax deferment assistance such as elderly/disabled or veterans exemptions.
  • They must not have more than $60,000 in liquid resources like cash on hand, combined checking and savings accounts, or other investments available for payout within seven days.

Once approved, eligible homeowners can get the grant money applied directly to their property tax bill or paid directly to use for other housing costs like insurance, mortgage, or utilities.

Since the pool of money is smaller this go-round, residents are encouraged to apply early and be proactive in communicating with county officials.

If you don’t meet eligibility criteria or need a little extra cash for housing costs, you can also explore your refinancing options here.

Author:
Originally a Florida native, Jeremy relocated to Austin, TX on the heels of the pandemic for a change of scenery. An MBA graduate from the University of California – Davis, Jeremy loves putting his passion and academic background in investing and finance to use helping others achieve their goals. Jeremy’s favorite activities center around spending time with his wife and infant son.
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