Georgia Real Estate Voice: Georgia Home Buyers get another Tax Credit

Jen Bowman's Georgia Real Estate Voice is about things that are relevant to Dekalb County and metro Atlanta area residents, including Decatur. It includes real estate, local events, lots of free events, local attractions, businesses and places I think are worth visiting. If there's a topic you'd like to see, let me know.

Georgia Home Buyers get another Tax Credit

On May 11, 2009 Governor Sonny Perdue signed House Bill 261 creating a Georgia Income Tax Credit for the purchase of a home.

  • Credit is limited to eligible purchases made between June 1, 2009 and November 30, 2009.
  • The credit created by HB 261 can be claimed one time per taxpayer and is completely independent of the federal first time home buyer tax credit. 
  • Maximum benefit of the tax credit is $1,800 or 1.2 % of the purchase price (whichever is less) spread over three years.
  • This is not for first time home buyers only.
  • This is for investors as well as owner occupied homes.

Home Buyers now have the opportunity to enjoy benefits of both a state $1,800 and a federal $8,000 home buyer tax credit. If you are planning to buy a home in the near future in GA, buy before November 30th and take advantage of this tax credit.

 

Learn more about HB 261, click here.

Learn more about the $8,000 Federal Tax Credit.

If you are ready to buy a home in the metro Atlanta area, contact me, Jen Bowman, Realtor and Broker Associate with Success Realty at 404-456-5024. 

For Sale 24 Thayer Ave Atlanta GA $239K

View more of the Georgia Real Estate Voice. Follow me on Twitter.

 

1 comment • Jen Bowman - Real Estate Agent in Decatur, GA serving metro Atlanta • May 14 2009 09:55AM

Comments

Jen any tax break that homebuyers can get these days is a major benefit.  I hope that many take advantage of this.

Posted by George Souto (McCue Mortgage) FHA, CHFA, VA Mortgages CT. 9 months ago

Participate

(optional)
What does the graphic say?