Signature Properties | Homebuyer Tax Credit

New Home Credit: A qualified principal residence, for purposes of the New Home Credit, must:

•	Be a single-family residence, either detached or attached. This can be a single-family residence, a condominium, a unit in a cooperative project, a house boat, a manufactured home, or a mobile home. A home constructed by the taxpayer is not eligible since the home has not been "purchased."
•	Have never been occupied. Sellers must certify that the home has never been occupied in order for a taxpayer to receive an allocation of the credit.
•	Be eligible for the California property tax homeowner’s exemption.
•	Be occupied by the taxpayer as their principal residence for a minimum of 2 years immediately following the purchase.

First-Time Buyer Credit: A qualified principal residence, for purposes of the First-Time Buyer Credit, must:

•	Be a single-family residence, either detached or attached. This can be a single-family residence, a condominium, a unit in a cooperative project, a house boat, a manufactured home, or a mobile home. A home constructed by the taxpayer is not eligible since the home has not been "purchased."
•	Be eligible for the California property tax homeowner’s exemption.
•	Be occupied by the taxpayer as their principal residence for a minimum of 2 years immediately following the purchase.

Participating Communities:

CLICK HERE To download the California State Tax Credit flyer.

Last updated 5.1.10