I've already cashed in on some of these tax benefits!
Tell your clients, going green pays and saves. According to a study by the Joint Center for Housing Studies of Harvard University, for every dollar decrease in annual home energy expenditures, house values increase between $11.63 and $20.73.
Also I found out that going green can lower the tax bill. New federal tax credits are now available for green home improvements on a principal residence. Qualifying modifications must meet a certain energy efficiency level to be eligible for the credit.
The credits are available for improvements purchased and in service from January 1, 2009, through December 31, 2010. The amount of the credit is deducted from any income taxes the homeowner may owe. The credit is nonrefundable, allowing taxpayers to lower their tax liability to zero, but not below zero.
Tax credits are available at 30% of the cost, up to $1,500, in 2009 through December 31, 2010 (for existing homes only) for:
- Windows and Doors
- Insulation
- Roofs (Metal and Asphalt)
- Heating, Ventilating, and Air Conditioning (HVAC)
- Water Heaters (non-solar)
- Biomass Stoves
Tax credits are available at 30% of the cost, with no upper limit through December 31, 2016 (for existing homes and new construction) for:
- Geothermal Heat Pumps
- Solar Panels
- Solar Water Heaters
- Small Wind Energy Systems
- Fuel Cells
Make sure you tell your clients to purchase products that come with a Manufacturer Certification Statement - a statement from the manufacturer that indicates the product qualifies for the tax credit. For record keeping, advise that homeowners retain all receipts.
Additional details can be found at www.energystar.gov/taxcredits and www.homedepot.com/taxcredit
Embrace the Past, Engage the Present, and Envision the Future...
Cheryl Thomson
Buyers Coach
Buyers Advantage Real Estate Corp
4004 Genesee Place, Suite 113
Woodbridge, VA 22192
Cell: 703.216.5635
Licensed in Virginia
Search Homes in Lake Norman NC
Sandy Aichner, GRI, ABR, CDPE, SFR Broker,REALTOR Licensed in NC and SC
RE/MAX Executive Realty
(704) 746-7513
Lake Norman Homes
Copyright 2008-2010, ALL RIGHTS RESERVED, by the Author - Sandy Aichner
I can also assist buyers and sellers in Short Sales and Foreclosure sales and purchases.
Please call me If you have interest in purchasing or selling a home in Mooresville, Cornelius, Huntersville, Troutman, Denver, Sherrill's Ford, Catawba, Davidson, or Statesville, North Carolina!
