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Homebuyer Tax Credits

Posted By Barry Ritholtz On October 20, 2010 @ 2:30 pm In Digital Media,Real Estate,Taxes and Policy | Comments Disabled

This chart, via (of all things) TurboTax, is not what I expected. California and Florida sure, but Texas? And where is Nevada?

According to GAO, through July 3, 2010, approximately one million claimants claimed $7.3 billion in interest-free loans through the Housing and Economic Recovery Act of 2008, which provided homebuyer assistance in the form of a refundable credit for homes bought after Apr. 8, 2008 and before Jan. 1, 2009; Another 1.7 million claimed $12.1 billion in homebuyer credits using provisions of the American Recovery and Reinvestment Act of 2009, and 600,000 claimed $4.1 billion in credits under the provisions of the Worker, Homeownership, and Business Assistance Act of 2009. GAO also provided a state-by-state ranking under three different statistics: the total dollar amount claimed; the dollar amount claimed per resident; and the average dollar amount claimed per tax credit claim.

So this is a total dollar chart, but where are the per capita charts — in which case the bigger more populous states would naturally have more applicants.

Despite the lovely colors, I am going to have to give this map a Fail.

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[1]

via TurboTax [2]


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[1] Image: http://www.ritholtz.com/blog/wp-content/uploads/2010/10/tt-homebuyer-tax-credits0927.png

[2] TurboTax: http://blog.turbotax.intuit.com/deductions-and-credits/where-are-all-the-homebuyer-tax-credits/10072010-3728

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