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Brenda DeArmond of Watson Realty Corp

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Homestead Exemption

Lake County:  www.lcpafl.org

Orange County:  www.ocpafl.org

Osceola County:  www.property-appraiser.org

Seminole:  www.scpafl.org

Sumter:  www.qpublic.net/sumter

Volusia County:  www.volusia.org/property

 

Great information for the move-up buyer -- $6,500 Tax Credit.  Here's how it works:

1.    To be eligible to claim the tax credit, buyers must have owned and lived in their previous home for five consecutive years out of the last eight years.

2.    The tax credit does not have to be repaid unless the home is sold or ceases to be used as the buyer's principal residence within three years after the initial purchase.

3.    The tax credit is equal to 10% of the home's purchase price up to a maximum of $6,500.

4.    The tax credit applies only to homes priced at $800,000 or less.

5.    The credit is available for homes purchased after November 6, 2009 and on or before April 30, 2010.  However, in cases where a binding sales contract is signed by April 30, 2010, the home purchase qualifies provided it is completed by June 30, 2010.

6.    Single taxpayers with incomes up to $125,000 and married couples with incomes up to $225,000 qualify for the full tax credit.

 

 

 

 


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