Posts from April 21st, 2009

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New tax credit handy for new home buyers - Desoto Times Tribune, Hernando, MS

April 21st, 2009 by Anonymous

By ROBERT LEE LONG - Community Editor

rlong@desototimestribune.com

Published: Monday, April 20, 2009 7:55 PM CDT

DESOTO COUNTY ? While new home sales and building permits have taken a dive due to the ailing national economy, local real estate experts say new tax incentives could help boost the industry.

That is, if new home buyers are aware of the incentives and take advantage of them.

On Feb. 17, President Obama signed into law the American Recovery and Reinvestment Act of 2009, which includes tax credits and incentives for new home buyers. As part of $787 billion in economic stimulus measures, the legislation created a home buyer tax credit that is larger than the previous credit implemented in July 2008.

Among other things, the tax credit provides $8,000 toward the purchase of a home. The incentive applies to first-time home...

Click Here to Read More...

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