The latest update from the Franchise Tax Board (FTB) shows that just over $78mil of the $100mil allocated for the CA 1st Time Buyer Tax Credit has been claimed.
Applications for First-Time Buyer Credit received as of 06/15/10
| 05/04/10 | 430 | $ 2,351,000 |
| 05/11/10 | 2,470 | $ 13,283,000 |
| 05/18/10 | 4,830 | $ 25,473,000 |
| 05/25/10 | 7,330 | $ 38,357,000 |
| 06/01/10 | 9,760 | $ 50,948,000 |
| 06/08/10 | 12,740 | $ 65,787,000 |
| 06/15/10 | 15,220 | $ 78,108,000 |
Looks like it will be gone in two weeks or so. But, as the FTB states, the figures shown are only estimates, based on small samples. The numbers are overstated as there will be duplicate, revised, and invalid applications included as we have not verified any of the applications.
I will update this next week as the information becomes available.
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