Tax Credit for Current homeowners
Posted under: Remodel & Renovate in Sacramento
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October 1, 2009 12:42 PM |
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2 comments
The American Recovery and Reinvestment Act of 2009 isn’t limited to the $8,000 tax break for first-time homebuyers. It also established a number of tax breaks for current homeowners who want to improve their home’s energy efficiency, according to the National Association of Realtors. Energy-efficient improvements to exterior windows, skylights and doors, as well as certain metal and asphalt roofs, qualify for 30 percent of the project cost up to $1,500. The credit covers installation costs for HVAC, gas, oil and propane water heaters and biomass stoves. These improvements qualify for the credit through December 31, 2010.
Here's a link for more detailed information: energystar.gov/taxcredits
I think this is a great opportunity for homeowners who are looking to upgrade and improve their home. I know i'm going to be taking advantage of it.
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Comments
Yes, you would "qualify" for $6,500 tax credit, meaning you meet the requirements to be eligible, but unless you move out of your current primary residence and buy a different primary residence you would not be able to receive the credit. However, in reference to the credit mentioned above, you don't need to purchase a home to get the energy efficient tax credits.
hope that helps with your question.
clear skies,
_doug
http://www.buywithdoug.com