There’s good news on the real estate horizon, but you have to act fast. Jamie Smith Hopkins from the Baltimore Sun reports that the City Council has extended the deadline for homeowners to apply for the New Construction Tax Credit.
The City Council has just passed a bill, signed into law Tuesday by Mayor Sheila Dixon, that offers a “one-time amnesty period.” It’s for people who would have been eligible in 2005 or later had they met the original application deadline. (There’s a gray area there, thanks to the law’s use of the word “eligible”: Certainly you would have been eligible if you bought Jan. 1, 2005. But you also would have been eligible if you bought in the 90 days before that date.)
The credit is only available to owner-occupants. For instructions on how to apply, and a list of the supporting documents needed, click here. (Please note, link will open a PDF file.)
Many thanks to our reader PPNA Matt for letting us know about this important tax break!