Update on The Allocation of The California New Home Tax Credit

  Thinking about buying a new home?  Take advantage of the up to $10,000 California New Home Tax Credit while it’s still available.  There has been a strong demand for the California state credit and according to the Franchise Tax Board website, as of May 20, 2009 they have received a total of 6,816 applications and the total credit already claimed is $65,749,498.  This amount represents the applications that have been received, which include both processed and unprocessed applications.  Buyers must apply for this credit and it is allocated on a first-come, first-served basis.  Once the $100 million dollars has been allocated, the tax credit will no longer be available.

  If you are thinking about purchasing a new home contact your Realtor® for more details.

-Emily Schuyler

Smart Click Realty

DRE# 01768964