Oxford, MS Homes

The transition from renting to owning is a big step for anyone deciding to make the leap. One of the few key benefits home-ownership offers is tax deductions on a mortgage interest payments as well as Homestead-tax-exemption.  With these tax savings you can often realize a greater return than if you were renting.  According to the Lafayette County Tax Assessor :

Homestead Exemption is available, upon request, to homeowners who reside and pay all local and state taxes in the taxing district. 
There are two types of Homestead Exemptions available: Regular - allows up to $300.00 credit on a home with a $75,000 or more appraised value.Special - is for residents who are 65 years of age before January 1 of each year or who are 100% disabled. This exempts up to $75,000 of the appraised value.

Overview of the 2009-2010 homebuyer credit

As every body knows, investing into a home or a condo is a huge step. However, right now is a great time for first time homebuyers (and even people looking to upgrade or downgrade) to make an investment in the Oxford, MS community that will last. We at BC Real Estate encourage everyone to ask questions and to be as informed as possible about this new credit. This is why I encourage you to read a general overview on my website OxfordMississippiCondos.com or email me for any further questions you may have.