Thursday, February 5, 2009

Senate Votes $15,000 Tax Credit for Buyers

"The Senate voted yesterday to expand the economic stimulus package with a tax credit for homebuyers of up to $15,000. This tax credit, unlike others proposed previously, is a real tax credit, as long as it is claimed within two years. There is no automatic recapture of this money unless the buyer sells the property within two years of purchasing it. The National Association of Homebuilders (NAHB) also confirms that there are no qualifying criteria for receiving the credit and any homebuyer is eligible for it, whether he or she is buying a single-family or multifamily property."

- Multi-housing News, February 5, 2009