Better Homes Realty Atlanta
300 Colonial Center Pkwy Suite 100 Roswell, GA 30076
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The North Georgia Girls - Working Together for Success!
Real Estate Transactions provide great satisfaction when well planned and directed. Our experiences together provide information and resources in research, marketing and planning a move. Our main focus is providing excellent customer service. We would love to work with you in the sell or purchase of property in the following counties: Bartow, Fulton, Forsyth, Cherokee, Cobb, Hall, Gwinnett, Paulding, and Pickens.
GA TAX CREDITS
House Bill 261 - income tax credit for the purchase of a single-family residence during the six months between June 1 and November 30, 2009. The credit amount is the lesser of $1,800 or 1.2 percent of the purchase price. It is applied over 3 years, with one-third of the credit available each year. If the amount of the credit exceeds the taxpayer's tax liability, the unused credit may carry forward to the next tax year.
HB 261 credit is available for one time per taxpayer. The final version of the bill contains the GAR amendment that clarifies condominiums and residences occupied at the time of sale - eligible for the credit. In addition, eligible single family residences include:
• New single-family residences; • Previously occupied residences that were for sale prior to May 11, 2009. and are still for sale after May 11, 2009; • Owner-occupied residences in which the owner’s acquisition debt is in default on or before March 1, 2009; and • Residences where a foreclosure has taken place and are owned by the mortgagor or the mortgagor’s agent.
This tax credit is in addition to the federal first-time home buyer tax credit, which is available to only those buyers who have not owned a home during the last three years.
Don't miss out on the FEDERAL TAX CREDITS* available for your purchase - Must close by 12/1/09
