Posted by: realtormarkpalace | December 16, 2010

Energy Tax Credit Deadline Looms

The Dec. 31 expiration of most energy tax credits is driving a mini-boom in home improvements.

The federal tax credit covers 30 percent of the cost of various conservation upgrades, up to maximum of $1,500. In many states, it can be combined with state and energy company credits to potentially double the credit.

Congress is considering a smaller incentive for next year. Currently, the proposed new credit would cover 10 percent of the cost of conservation upgrades to a maximum of $500. The measure has passed the House, but there is no guarantee that it will pass the Senate.

Source: The News & Observer (Raleigh-Durham, N.C.), John Murawski (12/14/2010)

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