$10,000 California Tax Credit | Clovis Real Estate | Clovis Homes | Clovis Realtors

Clovis Articles

Subscribe to Articles

Search This Site

Clovis Real Estate News

January 8th, 2010

New Round of California Tax Credits?

California Governor, Arnold Schwarzenegger has proposed a 2010 state tax credit of up to $10,000 as part of a job creation strategy. Under Gov. Schwarzenegger’s plan, more than 20,000 California home-buyers could get a $10,000 tax state credit if they buy a new or existing home in 2010. It goes now to state lawmakers for consideration.

While it’s unclear how fast legislators might act, in 2009, they handily approved $100 million in tax credits. The credits, claimed by 10,600 CA buyers from March – June were exceedingly popular and ran out faster than expected.
The CA housing tax credits – which would provide up to $3,333 off state taxes for each of the next 3 years – could be combined with up to an $8,000 federal tax credit for a total of up to $18,000 in tax credits. The Federal tax credit ends April 30.

Schwarzenegger’s administration officials said conditions of their proposal would be similar to last year’s credit. The last tax credit had no income limits, made all CA home buyers eligible but required that buyers live in the home to claim the tax credit (no investors could take advantage of the credits).

Clovis Tax Credits

Stay tuned for whether Gov. Schwarzenegger’s tax credit is approved. We’ll let you know right here at ClovisExperts.com if it is. In the meantime, click here to read the Top 5 reasons why 2010 is a great time to buy a Clovis home. If 2010 is the year you hope to sell or buy a Clovis home, let us know. Just fill out the form below and let us help you reach your Clovis home goals.

Clovis Real Estate − "The Clovis Home Experts"

This entry was posted on Friday, January 8th, 2010 at 7:09 AM and is filed under Buyer Info. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.