Where Are All The Homebuyer Tax Credits?
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 (taxpayers must repay the credit over 15 years beginning in the 2011 filing season). 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.
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This is awesome…it is just like all the other bad decisions that people make that I get to pay for! If there is one thing in this world that makes me feel like an American when I wake up in the morning, it is other peoples bad decisions that I am so lucky to get to pay for. God bless the nanny state…er, I mean America (to those among the 20% whom are not sub-prime this is not intended for you)
The point of this graph is only to show how many claims, and therefore how much money went to what state.
Interesting, I hope this means an increase in home renovations
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Hi I was wondering if Washington #20 is Washington DC or WA STate?
Would of been an easy guess to say California, Texas, Georgia, and Florida. All of these are top 10 home buying states, where three of these states are in the top 6.
Cali rules … as usual, sunny and wonderful place to visit and live
I’m surprised you guys kinda suck at data presentation. I think it’s awesome that you have all the information, but without normalizing either of the measures you report you’ve let your data provide very little information. I could have come up with this list by just ranking states by population and the order would be almost identical.
Hi Mike & Chris,
Thanks for the feedback. We’re always looking to create simple visuals for folks to better understand taxes. We’ll keep your thoughts in mind as we move forward. Thanks for stopping by and weighing in!
Chelsea
Hello, you made a good blog post is also very good also hope you can come take a look at my blog thank
Claims per 100,000 residents would be much more meaningful here.