New Home Tax Credit

The New Home Tax Credit is a nonrefundable credit, up to $5000, against individual income tax allowable to a qualified buyer, provided a cap of $25,000,000 for all approved New Home Tax Credits has not been met.

Click here for additional clarification about this credit in a new administrative regulation, 103 KAR 17:150.

You Can Claim the Credit if All of the Following Apply:

1. Your qualified principal residence is a single family dwelling;
2. Your qualified residence is purchased to be the principal residence of the qualified buyer(s) for a minimum of two (2) years;
3. You purchase a new home after July 25, 2009 and before July 26, 2010; and,
4. You meet qualifications and receive approval from the Department of Revenue.

Call the Betty Seay Team. Take advantage of once in a lifetime tax credits, grants, low interest rate, and more! Julie Moore, Betty Seay Team 502-349-0051