Homeowners Can Get a Tax Reduction By Replacing Windows
Replacing windows with energy star rated products awards tax credits.
Through the Energy Star program, the federal Government is providing tax credits to homeowners who replace their windows and doors with energy star rated products during 2006 and 2007.
Energy star rated products are windows and doors that are tested and rated on how well they insulate against heat and cold. Must be at least a double pane Low-e glass window to be given an energy star rating. This does not mean that all double pane low E glass will receive an energy star rating though. Check with the manufacturer for details.
How to claim tax deduction?
In order to receive the tax credit, you must have the proof. Carefully remove the energy star labels and apply them to a sheet of paper. Keep a copy for your records. $500 is the maximum amount that can be deducted from your taxes. This is not a tax write off; it is a deduction. To learn more about the program go to the Energy Star website at: www.energystar.gov
Do Utility Companies Offer Any Programs?
Some Utility companies, both gas and electric, offer rebates based on the total square footage of the windows and doors installed. Rebates range from as little as .50 a square foot to $1.50 per sq. ft. Contact your local energy company to see if they offer energy star rebates in your area.