Friday, June 12, 2009


US Sen. Johnny Isakson (GA) and former President of Northside Realty, has introduced a bill that would not only raise the tax credit's current $8,000 cap but make it available on any pruchase of a primary residence, not just first time buyers.
A preliminary review of tax returns suggests as may as 1.4 million homebuyers claimed the first-time homebuyer tax credit on their 2008 returns on track to reach the target of helping 2 million by the expiration date of Nov. 30.
in addition to expanding the tax credit this bill would extend its availabiltiy for one year from date of enactment and allow all homebuyers to claim it on their 2009 tax return for purchases made next year.
This is a wait-and-see, and would be nice...

This NC bill would allow a home builder to defer paying property taxes on new construction until the home is sold or the builder or other authorized individual occupies the property. This bill would expire in 2012. The bill is supported by the Wake County Home Builders Association and the NC HBA along with the NC League of Municipalities. The payable taxes become a lein on the property payable at closing.

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