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Lindley Estes is a business writer for The Free Lance-Star and Fredericksburg.com. This blog is on Fredericksburg-area business. Send an e-mail to Lindley Estes.

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$8,000 tax credit

To me, one of the most interesting parts of the economic stimulus law signed yesterday is the $8,000 tax credit that first-time homebuyers can receive if they buy a house between Jan. 1 and Nov. 30 this year. This amount wouldn’t have to be paid back and could be used to offset tax liability in the 2008 or 2009 tax year. If the homebuyer doesn’t have $8,000 worth of tax liability, he or she can get a refund from the federal government up to $8,000. This should be very attractive to first-time homebuyers who are on the fence about buying a home.

The National Association of Home Builders has put out a very informative Web site that answers pretty much every question I had about this program. You can read about it by clicking here.

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Permalink: http://news.fredericksburg.com/businessbrowser/2009/02/18/8000-tax-credit/

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