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Homebuyer Tax Credit Extension

By KFBB News Team

Story Created: Oct 30, 2009 at 5:18 PM MST

Story Updated: Sep 14, 2011 at 9:31 AM MST

The final details are emerging, but it appears the Senate is done fighting on the tax credit issue.
According to the National Association of Homebuilders, this would extend the $8,000 first time home buyer tax credit until April 30th. At this point, the credit is set to expire December 1st.
Along with this proposed extension comes a new $6,500 incentive for buyers looking to move from their current home.
Yet with this news comes mixed emotions amongst members of the Great Falls community about just how much of a difference it's going to make.
While details are still coming in, the final vote on the tax credit extension and move-up tax credit should happen sometime Monday afternoon. Overall, the proposal is expected to cost $10.8 million over the next 10 years.

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