State takes advantage of home-buying credit
Tennessee ranks fifth in the country in the use of the first-time homebuyer tax credit, according to a new federal report.
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The report released this week by the Government Accountability Office found that 35,836 Tennesseeans have used the credit in 2008 and through Aug. 22 this year.
The total credit claimed was $256.2 million. When population is taken into account, both figures rate Tennessee higher than any other state except Nevada, Utah, Arizona and Florida.
Nationwide, 1.4 million taxpayers have used the credit at a cost of $10 billion, according to the report.
Full story is available on The Leaf Chronicle
