Abcleads.com BBB Business Review  NAHB member
Call us at
1-800-219-5332


All times are UTC - 5 hours




Post new topic Reply to topic  [ 7 posts ] 
Author Message
 Post subject: Tax credit for replacing windows?
PostPosted: Thu Oct 13, 2005 12:19 am 

Joined: Wed Sep 28, 2005 11:12 pm
Posts: 12
Offline
Does anyone know of an energy tax credit if you replace your windows? If so, how much do you get back?

Thanks!


Top
 
 
 Post subject:
PostPosted: Thu Oct 13, 2005 6:08 am 

Joined: Fri Mar 11, 2005 3:10 pm
Posts: 225
Location: Twin Cities, Minnesota
Offline
I was just discussing this with FeneX the other day. He said the legislature had just passed a new law for a rebate but I'm not quite sure where it finished off at. I know it wasn't what was lobbied for, but it was a start. I'm sure Fen can add to this and give the final numbers.


Top
 
 
 Post subject:
PostPosted: Thu Oct 13, 2005 7:46 am 

Joined: Mon Mar 28, 2005 9:22 pm
Posts: 301
Location: Peoria, IL
Offline
I know that many state and local govt.'s have different programs and grants, other than energy star, that you can look into to help pay for the windows, et al. Some municipalities look for homeowners who are willing to improve their properties. Rochester, NY has a grant where they'll help out, but the downside is they put a lein on your house for X number of years, with the stipulation that it will come off IF you stay for the entire time the lein is on. I think there, it's 5 years. The downside to that is that IF you decide to finance anything else, or take out a home equity loan, I should say, Rochester will not subordinate, or step down a spot to allow another finance institution to be above them as a lein holder. I've lost some sales because of that there. Also, when financing with a secure (Home equity) loan, you can claim the interest as a tax deduction. Now, of course, if you can't beat the standard deduction, that won't make a hill of beans, but otherwise, it's good for a couple hundred bucks a year back.


Top
 
 
 Post subject:
PostPosted: Thu Oct 13, 2005 11:20 am 
User avatar

Joined: Fri Mar 11, 2005 3:58 pm
Posts: 1335
Location: Northern & Central Illinois, Chicago suburbs
Offline
I'm pretty sure the credit that includes windows from the recently signed energy bill starts Jan. 1st and max's out at a credit of $200.00


Top
 
 
 Post subject:
PostPosted: Thu Oct 13, 2005 11:33 am 

Joined: Sun Mar 13, 2005 12:57 am
Posts: 135
Location: ne ohio
Offline
that is exactly right w4u and another $200 for doors for a max of $400.


Top
 
 
 Post subject: Reply
PostPosted: Thu Oct 13, 2005 2:04 pm 

Joined: Fri Mar 11, 2005 3:43 pm
Posts: 353
Location: Illinois
Offline
I think I heard it was $300 for Energy Star appliances and an additional $200 for windows. Not exactly what homeowners were hoping for is it. The original proposals were for 10% of up to $20,000- or a $2000 tax credit. Very disappointing.


Top
 
 
 Post subject:
PostPosted: Thu Oct 13, 2005 7:09 pm 

Joined: Tue Jul 26, 2005 8:48 pm
Posts: 323
Offline
The bill was signed last month and sent to the house in which they have 45 days to approve or change and return before it goes into effect. The $200 amount requires LowE(or EnergyStar rated units) and should cover the manufacturer increases we expect to see during the 1st quarter of 2006. The credit will be available for 2-3 years and I believe you must change all your windows in living areas.


Top
 
 
Display posts from previous:  Sort by  
Post new topic Reply to topic  [ 7 posts ] 

All times are UTC - 5 hours


Who is online

Users browsing this forum: Exabot [Bot], Google [Bot], Yahoo [Bot] and 9 guests


You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot post attachments in this forum

Jump to:  
Powered by phpBB © 2000, 2002, 2005, 2007 phpBB Group