Habitat for Humanity asks Wicomico County for temporary property tax credit and down-payment funding

Molly Hillegas, chief executive officer of Habitat for Humanity of Wicomico County, told the Wicomico County Council at a work session April 15 that rising home prices and stagnant wages have created a widening affordability gap and asked the county to consider two short-term measures: a property tax credit for Habitat while it rehabs properties and a $40,000 down-payment assistance fund drawn from cannabis tax revenue.

Hillegas said housing prices in the county have more than doubled over 10 years, noting a home sold for $97,000 a decade ago and similar homes now list for roughly $272,000. She said Habitat is required to sell at fair market value and that the gap between loan limits for lower-income buyers and listing prices is the primary barrier to homeownership for the families Habitat serves.

In an example she presented, a family of four at 60 percent of area median income (AMI) with annual income of $56,208 could receive a maximum mortgage of about $159,000 while the median listing price for a livable home…