Maine Opportunity Tax Credit: First-Time Home Buyers
As a parent of two twenty-year-olds who are saving to buy for their first homes, I am so pleased to hear Governor Mills State of the State address and her revision of the Opportunity Maine Tax Credit.
“School debt is a heavy burden that prevents young people from starting a business, affording a mortgage or paying their bills and achieving their full potential. It is simply unacceptable,” said Governor Mills. “We will broaden and simplify the [Maine Opportunity Tax Credit’s] eligibility criteria so that those who graduated with student debt – regardless of what type of degree they have or where they graduated or what type of work they do now – they will be eligible for up to $25,000 of debt relief over the course of their lifetime, so long as they have a job and they make Maine their home. With these changes, the Opportunity Maine Tax Credit will be the leading student loan debt relief program in the nation and a powerful tool for employers to draw people from all walks of life to work and live in the State of Maine.”
This news will allow my adult children as well as many others to save for their first home at a faster rate. Thank you Gov Mills as Generation Z is an important part of our communities and giving them a hand up helps us all.
Looking to buy into this market, give us a call, and let's strategize on best practices on buying in today's market.
Cates Real Estate | 207-691-8008 | some@catsre.com
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