According to state Franchise Tax Board, the applications for the $10,000 state tax credit for new home buyers has generated 2,624 applications in the first 28 days!
Get more information on the tax credit here
The Sacramento Bee, reports:
“The credit, estimated to benefit about 10,000 homebuyers statewide this year, offers up to $3,333 off state taxes for each of the first three years after buying. First-time and move-up buyers alike are eligible, and there are no income limits. The state credit can also be combined with a new $8,000 federal tax credit for first-time buyers”
As mentioned above, applications are flooding in. The allocation for the credit will likely be consumed by the middle of the summer. So, if you’re in the market, or know someone who is, grab it now.
