Friday, February 19, 2010

Home Improvement Tax Benefits in 2010

According to a study for the Joint Center for Housing Studies at Harvard University, for every dollar decrease on annual energy expenditures house value increases about 11.63 to 20.73.

Also Going Green can lower your tax bill. New federal tax credits are ready for green home improvements on your principal residence.


Tax credits are available at 30% of the cost up to $1500 to make the following improvements through December 31, 2010 on existing homes:


Windows & Doors

Insulation

Roofs (Metal and Asphalt)

Heating, Ventilating, and Air Conditioning (HVAC)

Water Heaters (Non-solar)

Biomass Stoves


Tax Credits are available at 30% with no ceilings for improvements made before December 31st, 2016 on existing homes for the following:
Solar panels
fuel cells
Solar water Heaters
Small wind Energy Systems
Geothermal Heat Pumps

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