Home-buying break fits state widely
40% of owners called eligible for $6,500 U.S. tax credit on a new home
Tuesday, November 10, 2009
More than 40 percent of Arkansas homeowners are eligible for a $6,500 federal tax credit if they sell their home and buy another one by June 30, according to an analysis of census numbers.
President Barack Obama signed a bill last week to extend an $8,000 tax credit to first-time homebuyers and provide a $6,500 credit to buyers who have owned their principal home for five of the past eight years. For both the extension for first-time homebuyers and the new $6,500 credit, homeowners must sign a purchase agreement by April 30 and close by June 30.
To qualify for the $6,500 credit, home owning couples must make less than $225,000, and a single ...
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Front Section, Pages 1 on 11/10/2009
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