SOURCE: Georgia Association of REALTORS(R)

Georgia Association of REALTORS(R)

June 15, 2009 13:34 ET

New $1,800 Tax Credit Another Reason for Georgians to Get Off the Fence in 2009

ATLANTA, GA--(Marketwire - June 15, 2009) - The Georgia Association of REALTORS® (GAR) applauds the passage of HB 261, recently signed into law by Governor Sonny Perdue, which provides for a $1,800 tax credit for homebuyers in Georgia.

"This tax credit will provide a needed boost to the housing market and subsequently, the Georgia economy as a whole," says Steven Fischer, 2009 GAR President. "Adding this $1,800 state tax credit to the $8,000 federal tax credit makes for an unparalleled opportunity for buyers," he continues. "Combined with the historically low interest rates, there has literally never been a better time to purchase a home."

Unlike the federal tax credit, the Georgia credit is not limited to first-time homebuyers, and there are no applicable income limits. The credit is only available to buyers of eligible single family residences who close between June 1 and November 30 of this year.

"As a Georgia resident, I am proud that our Governor and legislature have proactively taken steps to create a win-win situation for homebuyers, investors, and all Georgia taxpayers," says Ernie Curtis, a REALTOR® with Prudential Georgia Realty in Fayetteville, who also serves as the Vice Chair for GAR's State and Local Governmental Affairs Committee.

Since mid-April, GAR has been conducting a grassroots public awareness campaign to urge buyers to take advantage of a variety of inventory, low prices, historically low interest rates and the $8,000 federal tax credit. The Georgia tax credit is an added incentive for potential buyers to "Get Off the Fence" and into a home in 2009. GAR also expresses its appreciation for Representative Ron Stephens of Savannah, Representative Larry O'Neal of Warner Robins, and Senator Chip Pearson of Dawsonville for their efforts in the passage of HB 261.

The Georgia Association of REALTORS®, the Voice for Real Estate in Georgia™, is a voluntary professional association of approximately 32,000 licensed real estate brokers and salespersons engaged in all aspects of the real estate business throughout Georgia. GAR is the leading advocate for the real estate industry in Georgia, committed to protecting private property rights and free enterprise, maintaining ethical and professional standards, and enhancing the public's awareness and confidence in REALTORS®. To read more about GAR's public awareness campaign, visit www.garealtor.com/fence.

Contact Information

  • Contact:
    Brandie Miner
    GAR Director of Communications & Marketing
    Email Contact
    678/597-4111