Yeah, I saw the three for one split. You’d need over sixty grand of taxable income to use it all. One of these ‘typical’ new homes would give you thirty grand in interest and property tax on top of that. Add the personal exemption and my original guess was too low... make it about a hundred grand a year income before the tax break’s used up.
It’s basically $100,000,000 more dollars out of taxpayers pockets to subsidize home builders.
Instead of a tax credit, all the builders/developers had to do is reduce the sales price by $10K (for the same effect).
It’s not enough to pay for welfare, now we have to subsidize all businesses, too.
Market economics seems lost on our legislators, both R and D.