California follows Fed with Tax Credit of their own.

See Information below and follow the link for more Information.

CALIFORNIA

The California budget bill just signed into law includes a $10K California state tax credit for all NEW homebuyers who purchase a home between March 1, 2009 and March 2010 (or until the $100 million credit allocation is used up).  The credit is in addition to the Federal tax credit and can be used $3,333 per year in 2009, 2010 and 2011 for ANY new home buyer who stays in the home at least 2 years.  This is not available to the resale market and was not even introduced in the legislation until the final vote (Senator Ashburn from Bakersfield) agreed to vote for the budget package only if the credit were included.  More information is available here: http://www.cbia.org/go/cbia/newsroom/cbia-in-the-news/homebuyer-tax-credit-passed-by-legislature/

 

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