The American Recovery and Reinvestment Act recently enacted by the United States Congress provides Dane County first-time home buyers with a $8,000 tax credit. The current legislation supercedes rules that were enacted back in the fall of 2008. Here are the top ten facts to know about the free $8,000 credit:
1. Available to Dane County first-time home buyers (a first-time home buyer is someone who has not owned real estate in the last three years).
2. Available for all principle residences including single family homes, condominiums, townhouses, and owner-occupied residential income property.
3. Home must be purchased between January 1st, 2009 and December 1st, 2009 inclusive.
4. The credit does NOT require repayment.
5. The full amount of the credit is…
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