California approves $10,000 new home tax credit
California's budget is in the hole by tens of billions of dollars - compared to Florida's "modest" $3- to $4-billion shortfall - but Gov. Ahhh-nold and the Legislature will offer buyers of NEW homes a $10,000 tax credit if they buy between March 1, 2009 and March 1, 2010.
Is this a model for Florida? Not exactly. We already get a 100-percent tax credit - it's called NO STATE INCOME TAX. But I'm glad California is trying this approach. Despite its obvious shortcomings, California tends to be the nation's bellwether, trend setter and vanguard of experimentation, good and ill alike.
If that state's high-priced housing market can fight off the recent infection, Florida's healing probably isn't far behind.
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Housing market news is the focus of the (Un)Real Estate blog. It offers an inside look at the Florida housing market and real estate news, with a focus on Tampa Bay. Its goal? Simple: To help you keep a roof over your head without losing your shirt.
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