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.