California Renter's Tax Credit Could See Bump As Rates Rise Across State

SACRAMENTO (CBS13) - California renters may have more pocket money after tax season.

A bill moving through the State Capitol could raise the tax credit for home and apartment renters.

Right now, single filers making less than $40,000 a year qualify for a $60 tax credit.

Joint filers making less than $80,000 get double that credit.

The proposed bill would give back single renters 10 percent of the median rent in the area, and 20 percent for joint filers.

But some renters say that's not enough to keep renters in Sacramento.

"I'd like to see some rent control, I'd Iike to see more low income housing, affordable housing," said Midtown resident Alan Dill.

If the bill passes, eligible renters will see a jump in their tax credit starting in 2020.