New-roof Tax Credit of $1,500 About to Expire
Have you ignored cracked, curled, or missing asphalt shingles? Winter is almost upon us in some regions and that is another reason to replace a shabby roof.
You could save 30 percent off the cost of the materials—up to $1,500—in federal tax credits if you do it before December 31, 2010.
The tax credit is limited to an Energy Star-qualified roof.
Qualified roof products reflect more of the sun’s rays, which can lower roof surface temperature by up to 100F, decreasing the amount of heat transferred into your home. This can help you save 10 to 15 percent off your air-conditioning bill come next summer.
The list of qualified roofing products has been dominated by metal roofs (not a bad option now), but the tax credit applies to some types of asphalt shingles as well.
Additional tax credits may apply depending upon your locality. Check our Tax Credits & Subsidies article for more information.