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NYS Mortgage Credit Certificate
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NYS Mortgage Credit Certificate Program
With an MCC, 20% of your annual mortgage interest can be converted into a tax credit and deducted dollar for dollar from your Federal income tax liability. The remaining 80% of mortgage interest continues to qualify as an itemized tax deduction.
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STAR Program
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There is much confusion on this from consumers.
The STAR exemption that all homeowners are eligible for is not affected. This is a reduction off the school portion of your property taxes on your (primay residence only) that a homeowner must apply for (usually a one time application) for yearly reductions. There is an enhanced STAR program for senior citizens that reduces their property taxes even further but the application for this is based on their income. The last 2 years there was a third factor of the STAR program that was a rebate check sent directly to homeowners after an additional application was mailed or filled out online every year. THESE CHECKS ARE DISCONTINUED. The rebate portion of the STAR is no longer in effect. All other STAR reduction programs are still ongoing.
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There are currently no Announcements.
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TriciaFenty@gmail.com
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Buy A Home With Me - Get Back Up to $5000 At Closing!
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Call me today! (631) 897-4766 Click Here For More Information |
Your source for Long Island Real Estate It is TIME TO BUY, FOLKS! Home prices and sales on an Upswing in the Second Quarter of 2009. According to the S&P/Case-Shiller Home Price Indices. The Standard & Poor’s/Case-Shiller’s U.S. National Home Price Index released Tuesday rose nearly 3 percent from the first quarter. The number of home sales increased nationwide by 7.2%! This means that the buyers are out there, better yet they are buying! And why not? Interest rates are low (for the moment) and Congress is giving an $8,000 tax credit to first time home buyers. Real Estate is always a good investment. Just ask Donald Trump. What are YOU waiting for? |
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Nob Hill Ronkonkoma
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2BR Eaton Unit - Largest unit at Nob Hill.
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