More Housing Tax Credits for Georgia Home Buyers

On Thursday, the Georgia Senate approved legislation that would give even more tax credits to the buyers of single family homes. The Senate made changes to the bill, sending it back to the House, in hopes for final approval.

Once approved, the bill would offer Georgia homebuyers $3,600 tax credits, broken down into $1,200 over 3 years. In order to participate, you must apply for this credit within 6 months of the governor signing the bill. The hope is that this credit will act as a true stimulus, as buyers need to act now in order to receive the credit. Predictions show the bill bringing an extra 1,100 homes sold this year.

This would be in addition to the federal tax credit of $8,000.  We will post more information on this tax credit as we receive it.