Albany, NY – New York Gov. Andrew Cuomo has signed into law a property tax breaks for some first-time home buyers, recently approved by the Legislature.
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The law would continue a municipal option to provide tax incentives for purchases of new homes by first-time buyers. Sponsors call home ownership “the most potent form” of economic stimulus.
Counties with programs include Albany, Alleghany, Chautauqua, Nassau, Oneida, Orange, Oswego, Rensselaer and Suffolk.
This program makes much more sense than wasting dollars on rent control subsidies which take badly needed money out of the pockets of landlords and developers and enrich tennants paying below-markets rates. Provide incentives for people to buy homes, rather than forcing landlords to subsidize their rentals.
This is what I call throwing bad money after bad! These politically-motivated subsidies for homeowners & buyer are part of what got us into this mess in the first place.
I bought my house in 2010 and received a tax credit on my federal return. Anybody have any suggestion how I would be able to cash in on the state credit as well?
Maybe something can be worked out like I bought it in 2010 but moved in during 2011.
Any sugestion please.