Tax Credits :: Green Valley Builders, Inc., Blacksburg, VA

TAX CREDITS
so you've heard a lot about tax credits for energy efficiency, but how can you use them in your home?

At Green Valley Builders, we are staying up-to-date on the latest tax credits, so that your new home is energy efficient and saves you money.

With the Federal Tax Credits for Energy Efficiency, you can apply for a tax credit for up to 30% of the cost for specific energy efficient items within your home. This allows you to upgrade products for the same price as a lower grade product, and get more for your money!

HOMEBUYER TAX CREDIT IS EXTENDED:

The $8,000 first-time homebuyer tax credit has been extended to APRIL 30, 2010. If you have not owned a principal residence during the three-year period prior to the home purchase, you qualify!

Not a first time homebuyer? You may still qualify. Buyers who have owned and lived in their previous/current home for five consective years out of the last eight qualify for a tax credit of 10% of a new home's purchase price, up to $6,500.

For more details visit: www.federalhousingtaxcredit.com

ENERGY EFFICIENT TAX CREDITS FOR YOUR NEW HOME INCLUDE:

Solar Panels: To qualify for this tax credit, the solar panel systems must provide electricity for your home, and must meet applicable fire and electrical code requirements. Qualified solar electric property costs are costs for a property that uses solar energy to generate electricity for use in your home. This includes costs relating to a solar panel or other property installed as a roof or a portion of a roof. This tax credit is for 30% of costs, with no upper limit.

Solar Water Heaters: ALL ENERGY STAR solar water heaters qualify for this credit! To receive the Solar Water Heater credit, at least half of the energy generated by the “qualifying property” must come from the sun. Homeowners may only claim spending on the solar water heating system property, not the entire water heating system of the household. This credit is not available for expenses for swimming pools or hot tubs, and the water must be used in the dwelling. This tax credit is for 30% of costs, with no upper limit.

Geothermal Heat Pumps: ALL ENERGY STAR geothermal heat pumps qualify for this credit! To earn ENERGY STAR approval, and to
qualify for this tax credit, pumps must meet strict energy efficient guidelines set by the US Environmental Protection Agency and the Department of Energy. Because they use the earth’s natural heat, geothermal heat pumps are among the most efficient and comfortable heating and cooling technologies available. This tax credit is for 30% of costs, with no upper limit.

START SAVING ON YOUR HOME TODAY!

For more information, visit the ENERGY STAR "Tax Credits for Energy Efficient" website , and download the documents below:

Green Valley Builder Tax Credit Flyer:	Residential Energy Efficient Property Credit application:

DON'T FORGET ABOUT THE LIVABLE HOME TAX CREDIT!

Are you a Virginia taxpayer with a new or retrofit home that has accessibility or Universal Visability features?

If so, you can apply for the Livable Home Tax Credit. $500 tax credits are available for the purchase of a new home and 25% of the cost up to $500 is available for retrofitting costs.

Accessibility features include: accessible route to a zero-step entrance on firm surface that is no steeper from 1:12 from a driveway or public sidewalk; zero-step entrance; doors with at least 32 inches of clear width; hallways and passages with at least 36 inches of clear width; accessible light switches, electrical outlets and environmental controls; accessible bathroom; and accessible and usable kitchen facilities.

Universal Visibility features include: at least one zero-step entrance approached by an accessible route on a firm surface no steeper than 1:12 slope proceeding from a driveway or public sidewalk; an accessible bathroom (can be a half bath/powder room) on the same floor as the zero-step entrance); and doors with at least 32 inches of clear width and hallways/passage ways of at least 36 inches of clear width to the accessible bathroom and eating area.

Click to download the Livable Home Tax Credit Guidelines!


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