California Governor Approves Home Buyer’s Tax Credit Bill
Starting May 1, California homebuyers can claim up to a $10,000 tax credit.
The legislation allocates $200 million to new buyer tax credits. Half will fund credits for buyers of new unoccupied homes. The other half funds credits for first-time buyers who buy resale homes.
California Association of Realtors President Steve Goddard said the tax credit “will incentivize first-time homebuyers to purchase homes that have been abandoned, foreclosed upon, and returned to the lender, or have been sitting on the market for extended periods of time.”
In both cases, buyers can waive whatever state taxes they owe – up to $3,333 – in each of the three years after buying. The program begins with escrows that close May 1 or after. Buyers who close escrow before then, and those who closed after a similar 2009 tax break ended last July, are ineligible.
Read more: http://www.sacbee.com/2010/03/26/2634445/schwarzenegger-signs-extended.html#ixzz0jbQCGsQU
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Yuba City
Yuba City, California
Just north of California’s Capitol in Sacramento, Yuba City offers a business climate and lifestyle unmatched in the State. This growing metropolitan area of over 168,000 provides unique opportunities for small and medium-sized businesses to thrive serving both the local area and the greater Sacramento Valley. Yuba City has retained the atmosphere and friendliness of a small town while managing new businesses, retail and residential development. The redevelopment of Yuba City’s downtown Plumas Street into a destination shopping district – have established Yuba City as a regional hub.
The economy is growing on the emergence of new technologies and opportunities, particularly at Beale Air Force Base, while embracing new developments in traditional industries including agriculture, manufacturing and building materials.
