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Your 2016 roof replacement may have earned you a tax credit

For the past few years, the federal government has been rewarding homeowners who get energy efficient upgrades for their home in the form of tax credits.
Views: 348 Created 04/03/2017

For the past few years, the federal government has been rewarding homeowners who get energy efficient upgrades for their home in the form of tax credits. Each year they extended the offer of tax credits for an additional year until now. As of December 31st of 2016, all tax credits for home upgrades are expired unless you install solar roofing panels. However, if you had your roof replaced in 2016, you may still qualify for a tax return for that tax year.

Two ways to qualify

The government offers a tax credit of 10% of the cost of a new roof (not counting installation) up to $500 if you installed a metal roof with the appropriate pigmented coatings or if you installed an asphalt shingle roof with cooling granules. The reason for the tax credit is because each of these two kinds of roofs meet Energy Star requirements and can lower the surface temperature of your roof by up to 100 degrees Fahrenheit. Because they reflect more of the sun’s rays they reduce energy consumption in the warmer months.

What about 2017?

The only way to get a tax credit in 2017 is by installing solar panels on your roof. But that doesn’t mean you should rule out an energy efficient roof this year. Though you can’t earn a $500 tax credit, you can save hundreds on heating and cooling costs with the right roofing material. Certain roofing materials can last decades longer than an asphalt shingle roof and will save you money in the form of fewer repair costs, roof replacement costs, and added home value.

Contact a Spokane roofing company to discuss energy efficient roofing options for your home.

Home improvement news brought to you by bartonroof.com

Source: consumerreports.  org/energy-efficiency/dont-miss-out-on-these-federal-energy-tax-credits

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