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  • September 2010
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  • Mary K. Lenahan, J.D., Realtor

New Construction Home Lovers Enjoy CA $10k Tax Credit If Buy Before End of Year!


California Association of Realtors published the following information concerning California Tax Credit for purchasing new construction homes:

The California First-time Buyer Tax Credit has ended, but the New Home Credit still is available.   Earlier this month, the California Franchise Tax Board announced it is no longer accepting applications for the state’s First-time Buyer Tax Credit, but it will continue to accept applications for the state’s New Home Tax Credit until the $100 million allocation is exhausted.  If your clients purchased a previously unoccupied home in California on or after May 1, 2010, and before Jan. 1, 2011, they may qualify for a tax credit of up to $10,000.  Check out the California Franchise Tax Board’s Web site to learn more about this tax credit, how to submit applications, and who’s eligible to apply.

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