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home : latest news : latest news February 6, 2016


11/27/2013 11:05:00 AM
Habitat purchases empty lots, ready to start building

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Thanks to an Arizona tax law, taxpayers may receive a dollar-for-dollar reduction in the actual Arizona State Tax that they owe - up to $200 for an individual or $400 for a married couple filing a joint return. The due date for tax credit donations is Dec. 31 of each year.
Support Habitat for Humanity with a no-cost tax credit donation
Individuals may take advantage of the no-cost tax credit opportunity that benefits Habitat for Humanity and puts money back in their pocket. Thanks to an Arizona tax law, taxpayers may receive a dollar-for-dollar reduction in the actual Arizona State Tax that they owe - up to $200 for an individual or $400 for a married couple filing a joint return. The due date for tax credit donations is Dec. 31 of each year.

No administrative costs are taken out of these donations and 100 percent of the tax credit goes towards building houses, therefore these year-end tax credit contributions help Habitat to continue helping qualified families.

For more information about the Prescott Area Habitat for Humanity, the no-cost tax credit program or how to volunteer, visit the Web site at www.prescotthabitat.org or call 928-445-8003.


Briana Lonas
Reporter


The Prescott Area Habitat for Humanity recently purchased several home lots in Chino Valley, but currently has no families on the building list for the area, said Prescott Area Habitat for Humanity Executive Director Miriam Haubrich.

Haubrich said to date, a total of 35 Habitat homes have been built in town.

Habitat receives funding for housing from Community Development Block Grants, donations and the Arizona State Tax Credit Program.

"The benefit of the tax credit is that it's a dollar-for-dollar savings," said Haubrich. "This tax credit is very significant for people who have to file. We are one of the qualified organizations that takes advantage of this program," she said and explained that interested persons may visit Habitat's Website and fill out the tax credit form electronically or call the office and request a form. Participants will receive a receipt for tax purposes.

Habitat partners with working, low-income families to construct and finance their own homes, a process that requires many hours of sweat equity from the future homeowners, Haubrich said. The new homebuyers then assume a 0 percent, 30-year mortgage.

A habitat home typically takes 18 to 24 months to see completion.

"It's not a quick process," Haubrich said, adding Habitat is not a free program. Participants must qualify and complete a pre-screening process that includes a background check. Also participants must have lived in their area for more than one year and be income-eligible without a bankruptcy or foreclosure history.

Related Links:
• Visit site prescotthabitat.org


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