Wednesday, April 18, 2012

Virginia Offer tax Credit for Livable Homes

The State of Virginia puts a value on houses that have liveable features. A Tax credit of up to $5000 is offered to either the builder or the home owner for work done to a home that makes it more Liveable. This can be applicable to either renovates or new construction. More details about the program can be found at:

www.dhcd.virginia.gov/LHTC

Virginia joins 17 other States that are have created incentive towards the growing Aging In Place movement. As some jurisdictions go, so go the neighbors. Civic association in Montgomery County Maryland are currently requesting that the county follow in the path of it's neighbor to the south.

For accesibility equipment, this can apply to home elevators and wheelchair lifts as well as their shaft contruction. The tax credit will likely not apply to equipment that could be removed like a stairlift and some outdoor porch lifts. You should probably check with the county program to make sure your Liveability project can take advantage of the tax incentives.