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If your purchase of a 3 bedroom, bath-and-a-half home at 32 West 104th St in Chicago’s Roseland neighborhood qualifies for the $8,000 tax credit you’ll have enough left over after the $5,792 purchase price to pay the real estate taxes – and celebrate with a nice dinner.
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Getting some business for the Roseland neighborhood.
I believe the tax credit is worded “10% up $80,000, maximum $8,000.” So if you bought this you would actually only get a $579.20 tax credit.
That’s merely (tongue in cheek) the letter of the law, Fred.
It’s been widely reported that people are claiming the full credit without bothering with the math.