Incline Village- Real estate – tax credit for home improvements

Homeowners tax credit available for home improvements through stimulus package!

The stimulus bill signed off by President Obama this week included a  tax credit for  homeowners encouraging them to make energy efficiency improvements.

 A tax credit up to 30% of the cost of improvements with a  maximum amount  of $1,500 is available to homeowners in 2009 and 2010. This means if you make improvements which cost you $4,500, you would receive a tax refund of $1,500 when you file your tax return. Windows, furnaces and air conditioners are examples of improvements which must meet the necessary efficiency standards to be eligible for the credit.

This will hopefully give the window industry and heating companies a boost. Consumers will be adding value to their homes and receiving long-term energy savings.