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Create A BlogCan You Take Advantage of the New Extended Tax Credit in Myrtle Beach ? |
Posted at Myrtle Beach Condos For Sale by Jerry Pinkas
Nov. 6, 2009
Tagged with: myrtle beach, myrtle beach first time home buyer, myrtle beach tax credit, north myrtle beach, tax credit for current home owners
Can You Take Advantage of the New Extended Tax Credit in Myrtle Beach ?
Even more people are now eligible, and can take advantage of the new tax credit law.
This new Credit includes a $6,500 tax credit for buyers who are current home owners, and have lived in their home for five of the past eight years.
This is not just a first time home buyer tax incentive any longer.
The income limits for eligible home buyers were also expanded to $125,000 for single buyers, and $225,000 for couples. Those limits were previously only up to $75,000 for individuals and $150,000 for couples. Qualifying home prices are capped at $800,000.
This will bring another level of buyers to the table that are able to take advantage of
Expected to contribute approximately $22 billion to the economy, Congress overwhelmingly passed a bipartisan measure this week extending the $8,000 first time home buyer tax credit to April 30, 2010.
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