Steamboat Real Estate Home Search and Blog

Since it’s tax time, here are ways to save money on your 2009 taxes by adding energy upgrades to your Steamboat home.

“Green” building and remodelling are huge in Steamboat.  In fact, when the developers get started building Ski Time Square, they will be required by city planners to use energy efficient building practices.  The Steamboat Springs Justice Center, Yampa Valley Regional Airport (HDN), and the courthouse all use solar panels  (You can click here to see how much energy the Justice Center has generated) and the new Steamboat Springs Community Library received a silver LEED certification.

If you are thinking of retrofitting your current home or building a new home, here are “green” ways to save money on your 2009 taxes.

Solar Power–Solar power is a popular way in Routt County to create energy for home use.   We have lots of sunshine in Steamboat Springs that can be converted into energy, so solar panels in Steamboat can be used as a primary or supplementary energy source.   Starting on Jan 1, 2009, homeowners can claim 30% of the installation costs for installing a solar-power system to a new home.  As an added bonus, there is no longer a cap to the amount homeowners can claim.

Wind–There is a new tax credit for small wind turbines for home or business use.  The credit is limited to $1,000/KW up to $4,000.  Since wind systems can cost over $50,000 and the towers need to be over 60 feet high, you probably won’t see many of these even though Routt County is a prime spot for sustained 15 mph winds that wind turbines need to operate.

Heat Pumps–Geothermal heat pump tax credits are capped at $2,000.

Energy Efficiency Tax Credit–if you are thinking about increasing the efficiency of your Steamboat home by adding insulation or replacing your doors or windows, you can be eligible for a tax credit of 10% up to $500.

Finally, if you want to take advantage of all the dead Lodgepole pines that have been turned into pellets, you can buy a stove in 2009 and get a credit for $300.  Wood pellet stove sales are gaining popularity because there is no carbon footprint–the pellets are made from dead wood.   Make sure you ask the retailer if the stove you are buying qualifies for the credit.  Not all of them do.