California Tax Credit For Home Buyers Is Almost Out of Money

The California tax credit for home buyers has been a big success it is almost out of money. The federal tax credit finished on April 30, 2010 to qualify for up to $8,000 in federal tax breaks. California started their tax credit May 1, 2010. It has been so successful that the amount of money set aside for the tax credit is almost gone. 80 percent of the home buyers tax credit funds or set asside  has been claimed by buyers.



The tax credit is issued on a first come first served basis and about 5,630 homeowners have filed for the credit. The program allow home buyers to seek up to $10,000 in tax breaks, spread over three years. The homes must have closed after April 30, 2010.

Tim Lorenz

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