Georgia Income Tax Credits – $1800 For Buying a House
Gov. Sonny Perdue signed on Monday Bill 261 into law. The law offers a tax credit of 1.2 percent of the purchase price of a single-family home currently on the market. The credit tops out at $1,800 and will be taken over three years. Georgia taxpayers have six months starting now to qualify for up to $1,800 in income tax credits by buying a home.
For first-time home buyers, the state credit would be in addition to a federal credit offered through the federal stimulus act. That credit is worth up to $8,000. The new state credit, however, applies to
any home buyer, not just first-timers. Read more about the $8,000 federal tax
here.
