http://www.wannanetwork.com/2010/03/23/10000-california-first-ti

New California First Time Home Buyer Tax Credit

Highlights

$200 million in funds available on a first come, first serve basis – could help over 20,000 home buyers

New homes for any taxpayer and new/existing homes for first time home buyers

“Qualified principal residence” means a single-family residence, whether detached or attached, that is purchased to be the principal residence of the taxpayer, is eligible for the homeowner’s exemption under Section 218, and has either never been occupied or is purchased by a first-time home buyer.

$10,000 tax credit or 5% of purchase price (whichever is lower)

Credit given in 3 payments to a taxpayer’s personal income tax returns over 3 year period

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• full link -SouthernCal- ♀ (110 bytes) () 04/27/2010 postreply 14:17:03

• thx. -美西游子- ♀ (0 bytes) () 04/27/2010 postreply 14:37:32