Energy Efficient Housing Tax Credits For Los Angeles Homewoners
Wednesday, February 25, 2009
When the American Recovery and Reinvestment Act of 2009 was passed last week, it included Energy Efficient Tax Credits and Grants - To promote green jobs and energy independence, ARRA invests significantly in efforts to make homes and buildings more energy efficient.
The highlights are:
- The tax credits that were previously effective for 2009, have been extended to 2010 as well.
- The tax credit has been raised from 10% to 30%.
- The tax credits that were for a specific dollar amount (ex $300 for a CAC), have been converted to 30% of the cost.
- The maximum credit has been raised from $500 to $1500 for the two years (2009–2010). However, some improvements such as geothermal heat pumps, solar water heaters, and solar panels are not subject to the $1,500 maximum.
- The $200 cap on windows has been removed.
Learn more about Los Angeles homeownership at EileenWalshRealtor.com.
