The business agrees to sponsor a Habitat home. A letter of intent is signed and workdays are scheduled (Friday or Saturday) for employees or volunteer groups solicited by the business. Other groups may also join to help complete the new home.
Completion of the new home is scheduled over a 12 week period. Employee and volunteer groups work side by side with the homeowner to build a new Habitat home. Volunteers complete the framing, siding, door & windows, painting, landscaping and final touch up for the new home.
Upon substantial completion of the new home:
The business applies for a tax credit, which is based on 50% of the appraised value of the home, excluding land (estimated at $50,000 for a $100,000 appraisal).
A tax credit approval letter is returned to the business within 2-3 weeks of presentation of tax credits.
The business applies for a sales tax refund or reduces estimated taxes on their Florida state corporate income tax return. For a sales tax refund, a check for the credit is returned within 3 to 6 weeks.