Tag: MCC
Governor Paterson Announces Federal Income Tax Credit For First-Time Home Buyers
Albany, NY - August 10, 2009 - (RealEstateRama) -- Governor David A. Paterson today announced that New York will offer a federal income tax credit to first-time homebuyers to encourage home sales in the State. The New York State Mortgage Credit Certificate (MCC) will enable first-time homebuyers to claim a tax credit equal to 20% of their annual mortgage interest costs, potentially saving the average homebuyer about $1,500 each year.
