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

Copyright 2013 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Recommended for you

(0) comments

Welcome to the discussion.

Please keep it clean, turn off CAPS LOCK and don't threaten anyone. Be truthful, nice and proactive. And share with us - we love to hear eyewitness accounts.

You must be a digital subscriber to view this article.