2010 State Tax Credit for New and First-Time California Home Buyer

Posted by Ben Nicolas on Wednesday, April 21st, 2010 at 8:59pm.

 Guidelines for the 2010 Tax Credit for New & First Time Home Buyers have been officially posted on the California Franchise Tax Boards website:

http://www.ftb.ca.gov/individuals/new_home_credit.shtml

 

Highligts:

  • Max $10,000
  • Starts for escrows closed after May 1st, 2010 and before January 2011
  • Total amount of allocated tax credit for all taxpayers may not exceed $100 million for the New Home Credit and $100 million for the First-Time Buyer Credit
  • State will allocate money for the tax credits on a first-come, first-served basis

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