$10K Tax Credit Ending Soon

Time is running out. No, that isn’t another car sell or a joke to keep GM in business but if you want to have your hand out to receive the $10,000 tax credit for purchasing a hopefully green new construction property (or even a condo in a dirty building) then you better do so soon.

That mammoth amount of cash that the state provided to steer buyers to the dormant new construction market has dwindled to only $12 million. May proved to be a boon for buyers taking advantage of the tax credit as buyers claimed approximately $30 million. The California Franchise Tax Board speculates that the $100 million fund will be “wiped out by August 2009 and the incentive will not be extended.”

Buildings such as San Francisco’s Arterra (which is on target to receive a LEED Silver up from LEED-NC which we previously had been informed) does offer some unique Green attributes.

Don’t get too bent out of shape if the tax credit disappears as a good agent should be able to negotiate more than a $10K credit (and maybe more sustainable offerings) if you play your cards right.

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