Helena -- Many new homeowners may be eligible for a $500 per person ($1,000 per couple) Montana Energy Conservation tax credit for having installed highly efficient windows, doors, and heating equipment in newly-built homes.
Tax credits are deducted from the bottom line of taxes owed.
For new homes, the tax credit is 25 percent of the material and labor costs for:
- Windows and doors rated U-.30 or lower;
- A furnace with an efficiency rating of at least 95 percent;
- A boiler with an efficiency rating of at least 90 percent;
- Attic, wall, and floor insulation levels that exceed minimum standards of the Montana Energy Code;
- Eligible mechanical ventilation equipment;
- And other high efficiency heating, water heating, and cooling equipment.
To determine whether a newly-constructed house has qualifying components, an owner should check information on the blue Energy Code Compliance label installed in or on the main electrical breaker panel. The code-required label is the builder’s certification that the house meets minimum efficiency standards of the statewide Energy Code.
With a minor adjustment for windows and doors, energy efficiency tax credits for houses built “beyond code” are expected to remain for the 2015 tax year as well.
For additional information, contact your tax advisor or go to www.energizemontana.com or call the Montana Department of Environmental Quality at: 406-444-6799
The Montana Department of Revenue website offers details on state requirements for all energy tax credits currently available. The 2014 versions of Montana tax forms ENRG-C (conservation) is available online at http://revenue.mt.gov/home/forms under Individual Income Tax Forms. The website also provides information on changes to the conservation credit for doors and windows in tax year 2015.
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