Tax Credit Information
Looking to build or buy a new home? See if you qualify for the new home tax credit.
In the state of Kentucky, the New Home Tax Credit is a nonrefundable credit, up to $5000, against individual income tax allowable to a qualified buyer, provided a cap of $25,000,000 for all approved New Home Tax Credits has not been met.
You Can Claim the Kentucky Tax Credit if All of the Following Apply:
- Your qualified principal residence is a single family dwelling;
- Your qualified residence is purchased to be the principal residence of the qualified buyer(s) for a minimum of two (2) years;
- You purchase a new home after July 25, 2009 and before July 26, 2010; and,
- You meet qualifications and receive approval from the Department of Revenue.
In addition the federal tax credit has been extended.
This information is provided as a service to our customers, Gemini Homes is not responsible for the reliability of this information. Please check with your accountant for more information and to see if you qualify for these tax credits.
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