Update on California First-Time Homebuyer Tax Credit

Sher Hann — Sun, 11 Jul 2010 00:05:52 +0000

There’s still a chance! The California Franchise Tax Board (FTB) has received first-time homebuyer applications for the CA tax credit totaling more than the $100 million allocated. Since many applications were found to be duplicates, revisions or invalid applications, the FTB has announced that it will accept at least 28,000 applications to insure the allocation is exhausted. New applications will be processed subject to the availability of remaining tax credits, as the allocation still cannot exceed $100 million. As of July 6 applications totaled 23,680 and were averaging 3,000 per week. FTB will update website FTB.CA.gov daily.

Westlake Village Real Estate Blog » CA homebuyer tax credit

Update on California First-Time Homebuyer Tax Credit