Schwarzenegger Suggests California to Extend State Tax Credit

During his State of the State address, Governor Schwarzenegger yesterday stated his 2010 proposals for California. Included in the proposals is a recommendation to set aside $200 million for a new round of $10,000 state tax credits for first-time home buyers. The proposal expands upon the initial $10,000 state tax credit by including both new and existing homes. Last year's tax credit applied only to new homes.

The tax credit could be combined with the recently extended and expanded federal tax credit for home buyers.

I really like the idea because I sell homes to people who would like them. We are over budget and going broke and I just do not get the idea that when you are in trouble you spend more money.

Tim Lorenz

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Tim Lorenz . Over 40 Years Experience Representing South Orange County Home Buyers, Sellers, Investors and Relocations!