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Nearly 45,000 first-time N.C. homebuyers have taken advantage of tax credit

Last week, the Internal Revenue Service released data on the number of homeowners who have taken advantage of the first-time homebuyer tax credit that has been available since 2008. A total of 1.42 million U.S. taxpayers have taken advantage of the credit, including nearly 45,000 homebuyers in North Carolina. The numbers were not broken out by year.

Those still hoping to qualify for the tax credit need to act soon, as an eligible home purchase must close no later than
Nov. 30. A single taxpayer or married couple can get a maximum tax credit of $8,000 under the current program. Those who take advantage of the credit must remain in the home for three years after the purchase or repay the credit. The 2008 version of the first-time homebuyer tax credit allowed for a maximum tax credit of $7,500 to be paid back over 15 years.

There's still a chance the government could extend the credit in some form, though no decision has been made.  

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