One of our missions here at Horizon Mechanical is to remain up to date on all the rebates and incentives that are available to our customers, and make it easy to take advantage of, we actually complete as much of the required paperwork as we can, AND even mail the applications in for you!, when required. As part of the recently passed tax bill, the 25C tax extension for residential high efficiency property has been extended for one year. This legislation included several significant changes in the 2011 tax credits compared to the 2009-2010 tax credits.
The maximum tax credit that can be claimed for 2011 has been reduced from $1500 to $500. In addition, the 2011 tax credits have placed maximum amounts that can be claimed for the various components of the HVAC system, such as a $150 maximum tax credit for a 95% gas furnace and $300 for an air conditioner or heat pump. These component maximum amounts are additive to a $500 maximum lifetime tax credit. Most of the HVAC qualifying efficiency levels have remained the same. The only exceptions are hot water boilers, where the qualifying efficiency has been increased from 90 AFUE to 95 AFUE.
Call us today for more information regarding these incentives, as we are here to help.