News About we buy houses ohio
*The tax credit is not available for buyers who are purchasing homes from close relatives.
City Council unanimously approved a resolution Oct. The current legislation, which was passed earlier this year, expires Nov. 19, urging Congress to extend the first-time home buyer credit through 2010. 30.
According to Kucinich, several proposals are before Congress to extend the tax credit, but the details of the final proposal are being worked out.
The tax credit was part of the American Recovery and Reinvestment Act (sometimes known as the stimulus plan) that included the popular cash for clunkers program.
“We need to get our resident back to work so they can afford to buy homes and they can afford to stay in the homes they already own,” he said.
*The purchase must be complete by Nov. 30.
* The purchase must be the buyer’s main home. Rental and vacation homes are not eligible.
The current credit of up to $8,000 is available to buyers with qualifying income levels who have never owned a home or have not owned a home in the past three years. The credit has been used by 1.4 million families so far.
Mayor Thomas Perciak asked Strongsville residents to call their representatives in Congress and urge them to support extending the tax credit.
The credit is obtained by filling out a special tax form and is given as a reduction on the buyer’s tax bill or an increase in the buyer’s tax refund. The credit is 10 percent of the purchase price of the home with a maximum of $8,000 available.
“It is absolutely vital to our economy and our community that this tax credit be extended,” Perciak said on Oct. 19. “We need to get the vacant houses in Strongsville filled.”
Kucinich wants President Barack Obama’s administration and Congress to pass a major recovery plan that would get all unemployed Americans back to work. The ideal plan should be similar to the Works Progress Administration and other programs that President Franklin Roosevelt used to revive the economy during the 1930s, Kucinich said.
Rep Dennis Kucinich (D-10) voted for the original tax credit and he approves extending the credit through 2010. However, Kucinich told Sun News he believes the tax credit alone isn’t enough to help Northeast Ohio residents through the tough economic times.
Strongsville officials support extension of first-time home buyer tax credit By Amanda Garrett, Sun Star-Courier October 29, 2009, 2:13PM STRONGSVILLE -- City officials are urging the U.S. Congress to extend a tax credit that gives first-time home buyers up to $8,000 in savings.
*The tax credit is eliminated for higher income taxpayers. The full credit is available to married couples who earn $150,000 per year or less or other taxpayers who earn $75,000 per year or less.
There are currently 243 homes for sale in Strongsville and 143 homeowners are having difficulty getting credit from their lending institutions, Perciak said at a recent Strongsville Chamber of Commerce meeting.
“I absolutely agree with Strongsville City Council that the tax credit should be extended,” he said. “But we need to do more. The recession may be over for people on Wall Street, but it’s not over for people on Main Street in northeast Ohio.”
The current qualifications for the program are:
we buy houses ohio
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Strongsville officials support extension of first-time home buyer tax credit
WSAV-TV“We need to get our resident back to work so they can afford to buy homes and they can afford to stay in the homes they already own,” he said. Homebuyer Tax Credit May Extend To Current HomeownersВсе похожие статьи: 673 »
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