June 2009

$1,800 Georgia Homebuyer Tax Credit Signed By Governor

Michael Bang

Friday, June 26th, 2009 at 12:18pm. 1049 Views, 0 Comments.

Governor Perdue signed the Georgia Homebuyer Tax Credit this week, which is GREAT news for Georgia home buyers. The bill will offer up to $1,800 in tax credits to Georgia homebuyers via a credit on their state income tax.

House Bill 261 gives a credit of either $1,800 or 1.2 percent of the purchase price, whichever is less. (You can only claim one-third of the credit each year, beginning with your 2009 Georgia tax return.) The purpose of the bill is to create a stimulus for home sales, and give a boost to the Georgia real estate market.

Here is how the Georgia Homebuyer Tax Credit applies to home purchases:

• Applies to single-family homes and condos if they are your primary residence
• The property must have been for sale prior to…

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