New Measure Waives California State Taxes on Foreclosures and Short Sales
Today the state Legislature approved a new measure designed to give Californians whose homes were foreclosed on or sold in a short sale a tax break. The bill will waive state taxes on mortgage debt that has been forgiven by a short sale or foreclosure and is estimated to affect 34,000 tax payers. The measure is expected to be signed by Governor Schwarzenegger so that people can take advantage of it by April 15th. The measure will also provide tax credits to green energy companies.
Posted 8th April 2010 by Sally Forster Jones
Labels: April 15th California foreclosures governor Schwarzenegger mortgage debt forgiveness short sales state legislature state taxes tax breaks tax relief
Join Our Network
Keep up to date on the latest market trends and opportunities on the Westside.