Get Up To $1,800 Back On Your Georgia State Income Tax When You Purchase a Home!

This Lawrenceville Hud home is listed at only $110,000!  Yes, it is part of the $100 down payment and 3% closing cost contribution program with FHA financing!

Get up to $1,800 back on your Georgia State Income Taxes when you buy a home before November 2009!

Governor Perdue signed the Georgia Homebuyer Tax Credit this week, which is GREAT news for Georgia home buyers. The bill will offer up to $1,800 in tax credits to Georgia homebuyers via a credit on their state income tax.


House Bill 261 gives a credit of either $1,800 or 1.2 percent of the purchase price, whichever is less. (You can only claim one-third of the credit each year, beginning with your 2009 Georgia tax return.) The purpose of the bill is to create a stimulus for home sales, and give a boost to the Georgia real estate market.

Here is how the Georgia Homebuyer Tax Credit applies to home purchases:

Applies to single-family homes and condos if they are your primary residence

The property must have been for sale prior to May 11, 2009 and must still be for sale

The property must be in default on or before March 1, 2009

The property has already been foreclosed on and is held by the bank or mortgage company

Homes purchased between June 1 and November 30, 2009 that meet the criteria will be eligible for the tax credit.


Here is just another reason why you should consider taking advantage of the great opportunites to get into your home today!