As a past Buyer-Client if you purchased your home for less than the Auditor's tax value please check the following link. The deadline for filing an appeal to reduce your taxes is March 30th!
Franklin County Auditor Board of Revision
APRIL 30th is the deadline to be "In Contract" on a home to qualify for the $6,500 or $8,000 tax credit. You must close by June 30th. The maximum credit amount remains at $8,000 for a first-time homebuyer – that is, a buyer who has not owned a primary residence during the three years up to the date of purchase. The new law also provides a “long-time resident” credit of up to $6,500 to others who do not qualify as “first-time homebuyers.” To qualify this way, a buyer must have owned and used the same home as a principal or primary residence for at least five consecutive years of the eight-year period ending on the date of purchase of a new home as a primary residence.
For all qualifying purchases in 2010, taxpayers have the option of claiming the credit on either their 2009 or 2010 tax returns. Taxpayers who claim the credit on their 2009 tax return will not be able to file electronically but instead will need to file a paper return.
The new law raises the income limits for people. The full credit will be available to taxpayers with modified adjusted gross incomes (MAGI) up to $125,000, or $225,000 for joint filers. Those with MAGI between $125,000 and $145,000, or $225,000 and $245,000 for joint filers, are eligible for a reduced credit. Those with higher incomes do not qualify.
Several new restrictions on purchases go into effect with the new law: 1). Dependents are not eligible to claim the credit. 2). No credit is available if the purchase price of a home is more than $800,000. 3). A purchaser must be at least 18 years of age on the date of purchase.
Year End Residential Home Sales - Central Ohio
Provided by the Columbus Board of REALTORS®
Annual Residential Home Sales |
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|
Sold Listings |
Dif from Previous Year |
Average List Price |
Average Sale Price |
Dif from Previous Year |
Total Dollar Volume |
Dif from Previous Year |
2009 |
20,235 |
-4.3 |
$163,193 |
$159,840 |
-2.4% |
$3,234,362,400 |
-6.6% |
2008 |
21,153 |
-13.5% |
$169,687 |
$163,732 |
-5.1% |
$3,463,422,996 |
-17.9% |
2007 |
24,445 |
- 6.9% |
$178,766 |
$172,531 |
-1.2% |
$4,217,520,295 |
- 8.0% |
2006 |
26,251 |
- 4.5% |
$180,162 |
$174,688 |
-1.8% |
$4,585,734,688 |
- 6.3% |
2005 |
27,493 |
3.1% |
$182,504 |
$177,978 |
4.4% |
$4,893,149, 154 |
7.6% |
2004 |
26,660 |
9.7% |
$174,876 |
$170,522 |
2.2% |
$4,546,116,520 |
12.0% |
2003 |
24,306 |
9.2% |
$171,205 |
$166,928 |
5.0% |
$4,057,351,968 |
14.7% |
2002 |
22,267 |
7.2% |
$163,216 |
$158,927 |
3.8% |
$3,538,827,509 |
11.2% |
2001 |
20,779 |
8.6% |
$157,281 |
$153,096 |
3.1% |
$3,181,181,784 |
12.0% |
2000 |
19,126 |
1.0% |
$152,720 |
$148,556 |
4.2% |
$2,841,282,056 |
5.2% |
1999 |
18,939 |
-3.3% |
$146,632 |
$142,576 |
4.2% |
$2,700,246,864 |
0.8% |
1998 |
19,577 |
17.4% |
$141,112 |
$136,843 |
4.1% |
$2,678,975,411 |
22.2% |
1997 |
16,682 |
0.4% |
$135,858 |
$131,439 |
4.5% |
$2,192,665,398 |
5.0% |
1996 |
16,614 |
11.0% |
$129,811 |
$125,724 |
6.5% |
$2,088,778,536 |
18.3% |
1995 |
14,962 |
|
$121,970 |
$118,000 |
|
$1,765,516,000 |
|
The tables above reflect the monthly statistics for listings from the Columbus and Central Ohio Multiple Listing Service which serves all of Franklin, Delaware, Fayette, Morrow, Madison and Union Counties and parts of Clark, Champaign, Fairfield, Hocking, Knox, Licking, Logan, Marion, Pickaway and Ross Counties. |
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