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California offering tax credit

Is California offering tax credits to new home purchasers? How much?
  • July 16 2009 - Chino
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Answers (11)

Best Answer

Yes it does, the credit is $10,000 but the fund it comes from is nearly depleted.  Go to

http://www.ftb.ca.gov/individuals/New_home_Credit.shtml
 

for more information.
  • July 16 2009
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Profile picture for real estate mike
Great another resource to help people buy homes which will raise all the californian's taxes for years to come(likely forever unless tea party). From the other posts is sounds like the builders lobbyists scored a victory using taxpayer funds. AWESOME!
  • July 16 2009
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Please click on the link below. It is from CAR and will show you what the status is on the program. http://www.car.org/legal/2008-2009-archive-news/reg-news-ca-home-tax-credit-gone/
  • July 16 2009
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Profile picture for Mr Caveat
i was afraid that you might say that sunny... sigh
  • July 16 2009
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Profile picture for sunnyview
.
  • July 16 2009
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Profile picture for Mr Caveat
so does this tax credit come in the form of IOUs that banks refuse to honor? or is that limited to people, employees and vendors who actually provide service and goods to the state so that the infrastructure doesn't collapse?

i have a sinking feeling
  • July 16 2009
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Profile picture for BMFPitt
The epic stupidity of a bankrupt state with a massive oversupply of houses paying people to increase that supply is beyond my capacity to describe.
  • July 16 2009
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Profile picture for MJCLEAN
Probably exhausted their resources by now...
  • July 16 2009
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Last week i read on the news paper, there are lesser than 2,000 available funds to go from 12,000.
  • July 16 2009
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Oh yes, the purchase has to be for a NEW home.  If you are looking in the around Chino there were quite a few new subdivisions where you can qualify.  From "The Preserve" to "College Park" to EastVale to "Edenglen".
  • July 16 2009
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This incentive is only available to first time homebuyers who plan on living in the property for more than three years AND it must be a newly built home which has never been lived in.
  • July 16 2009
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