Many First-Time Alabama Homeowners Have Claimed the Federal Tax Credit
Montgomery, AL – (AP) - More than 25,000 first-time homebuyers
in Alabama have claimed the federal tax credit offered under the
economic stimulus program.
The IRS, which announced the latest figures Thursday, said
Alabama ranked 20th in the number claiming the tax credit.
The program ends Dec. 1. It offers a tax credit of 10 percent of
the purchase price - with a maximum credit of $8,000 - to
homebuyers with qualifying income levels who have never bought a
home or have not owned one in the last three years.