By Melissa Dittmann Tracey, REALTOR® Magazine
Spread the word this holiday season to your clients: They only have a few more days left in the month to take advantage of tax credits for energy efficiency home improvements--so 'tis the season to upgrade!
Tax credits up to $500 are available for home owner’s to claim until the end of the year, but they better hurry. Congress has yet to renew the tax credits for 2012.
“Making efficiency improvements this year will lower home energy bills and improve home comfort for years to come, while also reducing 2011 federal income tax bills,” Kateri Callahan, president of the Alliance to Save Energy, said in a statement.
The allowance for the tax credits that home owners may be eligible for include:
- $300 for electric heat pump water heaters, electric heat pumps, central air conditioners, biomass stoves, and natural gas, propane, or oil water heaters.
- $150 for natural gas, propane, oil furnace, or hot water boilers.
- $50 for advanced main air circulating fans.
- 10% of the cost of insulation and sealing materials, exterior doors and certain types of energy efficient roofs.
- 10% of the cost, up to $200, of exterior windows or skylights.
For more information about applying for these tax credits and what projects are eligible, visit the Alliance to Save Energy web site.