2010 California First-Time Home Buyers Tax Credit Big Hit!
Friday, May 14th, 2010
As reported today, by the Franchise Tax Board, 2,470 applications for the 2010 California First-Time Home Buyers Tax Credit applications have been submitted! This credit amount request totals $13,283,000, or approximately $5,380 per application. At this rate and application amount, the total $100 million allocation could be requested by the end of June!
The FTB will continue to provide updates on the number of applications for the tax credit they receive on their web site. The updates are usually posted weekly.
The 2010 California First-Time Home Buyers Tax Credit is limited to purchases of resale homes only and the application for the tax credit my only be submitted after the close of escrow. For more information on eligibility and instructions on how to file for the tax credit application, please visit the FTB web site.
[...] The 2010 California Tax Credit for new and first time home buyers will continue to provide some stimulus for home sales. However, this program has a limited financial capacity. The first time buyer component of the plan will likely be subscribed by the end of June. The new home component may be available for a bit more time after that. [...]
[...] The 2010 California Tax Credit for new and first time home buyers will continue to provide some stimulus for home sales. However, this program has a limited financial capacity. The first time buyer component of the plan will likely be subscribed by the end of June. The new home component may be available for a bit more time after that. [...]