Property Tax Deduction Amt

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Twelve Ways Homeowners Can Benefit From The Tax Code

A refundable “first time homebuyers’ credit” of 10 percent of the purchase price of a new home – capped at $8,000 – is available for homes purchased between January 1, 2008 and before July 1, 2010. The purchasers must enter into a binding agreement to purchase before May 1, 2010, and must not have had an “ownership interest” in a principal residence during the three years before the purchase.

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