This past week Gov. Arnold Schwarzenegger signed a bill that extends the $10,000 state tax credit for first-time homebuyers.
The passage of this bill provides a state tax credit to first-time homebuyers who buy a new or existing home from May 1 through the end of 2010. Homebuyers are allowed to claim 5% of the purchase price or up to $10,000.
This is encouraging for first-time homebuyers and sellers alike. The federal tax encentive is still in effect for home purchases that are entered into through April 30th.
Comments(1)