DES MOINES — Some Iowans who buy homes may be eligible for a program that will reduce their federal tax burden.
Gov. Terry Branstad announced Monday the state is offering a mortgage credit certificate program that will reduce federal income taxes for qualifying buyers. The relief could be as much as $2,000 a year for the duration of the mortgage.
The program is available to first-time buyers, those buying in targeted areas and some military veterans. It is funded through federal bonds, and the state expects to provide relief to about 1,000 buyers.
A spokeswoman for the Iowa Finance Authority, which is administering the program, said the tax program had not been offered to Iowans since the mid-1990s. — AP
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