·          Tax Credit is available to buyers who purchase a new home for use as their principal residence for at least two years.

·          The maximum tax credit amount is $10,000.

·          $100,000,000 in tax credits available for new homes.
When the $100,000,000 runs out, this opportunity is gone!

·          The credit is available for new homes that close escrow on or after May 1, 2010 and before August 1, 2011 (as long as a binding contract is signed by December 31, 2010).

·          There are no income limitations.

·          There are no first-time home buyer requirements to receive the new home tax credit.

California state tax credit of up to $10,000 available to new home buyers who close escrow on a qualified new home on or after May 1, 2010 and before August 1, 2011(as long as binding contract is signed by December 31, 2010). The amount of any CA state tax credit is applied in equal amounts over three successive tax years and is allocated by the state on a first-come, first-served basis until the $100 million allocated for the credit is exhausted. D.R. Horton has no control over how the credit funds are allocated. Amount of tax credit, if any, is not paid to buyer upon close of escrow. Buyer must claim the tax credit on buyer's state income tax return. Not all buyers will qualify. This information is provided for general guidance only and does not constitute tax advice. Please consult an accountant or attorney for your particular situation. Visit www.ftb.ca.gov for complete details and to determine how many tax credit funds remain available.