$8,000 credit awaits some Oklahoma home buyers
President Barack Obama signs the $787 billion economic stimulus bill, as Vice President Joe Biden looks on Tuesday at the Denver Museum of Nature and Science in Denver. AP Photo
Home sale. Up to $8,000 off for any qualified first-time buyer. Offer good through Nov. 30.
That’s the effect of the new federal housing tax credit in the $787 billion economic stimulus bill signed Tuesday by President Barack Obama: a discount.Multimedia
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• The tax credit is for first-time home buyers only and those who have not owned a house during the past three years.
• The tax credit does not have to be repaid.
• The tax credit is equal to 10 percent of the home’s purchase price up to a maximum of $8,000.
• The credit is available for homes purchased on or after Jan. 1 and before Dec. 1.
• Single taxpayers with incomes up to $75,000 and married couples with incomes up to $150,000 qualify for the full tax credit. Source: www.federalhousingtaxcredit.com, a Web site of the National Association of Home Builders
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Public Finance, Domestic Policy, Political Policy, Politics, Business, Taxes, Economic Policy, Real Estate, Property Values, Economic Stimulus, Government and Politics
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