Will California’s new homebuyer tax credit help Oakland’s economy?
on April 15, 2010
First time homebuyer Itoco Garcia says the federal tax credit — which expires at the end of the month — made it possible for him to buy his home in North Oakland’s Golden Gate neighborhood. But will the new California homebuyer tax credit, the state version of the federal program that goes into effect May 1, provide the same opportunities? How will it affect housing prices and the home construction industry? Callie Shanafelt has the story for Oakland North Radio.
For more information on the California tax credit check out the California Franchise Tax Board.
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Oakland North is an online news service produced by students at the UC Berkeley Graduate School of Journalism and covering Oakland, California. Our goals are to improve local coverage, innovate with digital media, and listen to you–about the issues that concern you and the reporting you’d like to see in your community. Please send news tips to: oaklandnorthstaff@gmail.com.
the difference in wording between the 2 credits is interesting. The federal one said it has to be your primary residence. the CA one says it has to be a single family home. I’d be very interested to know if CA really means it needs to be owner occupied as I’m looking at a duplex where my mom would live in the other half.
This will be a great site for me so thanks!