Arn Cenedella

It appears $15,000 tax credit for home purchases may not include income limits.

The current $7,500 tax credit for first-time buyers has income limits of $95,000 for individuals and $150,000 for couples. Due to our high housing prices, this credit has done little to spur our local market.

It appears the proposed $15,000 credit will not have income limits and will apply to all home purchases – personal residences only.

Calculated Risk gives good info on the details of the $15,000 Senate approved tax credit.

Bloomberg reports this credit will benefit higher income earners unlike the current $7,500 credit.

This entry was posted on Sunday, February 8th, 2009 at 3:46 pm and is filed under Credit Information, Helpful Sites, Inspiration, Real Estate, Real Estate Finance. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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