STATEN ISLAND, N.Y. — The Staten Island Board of Realtors (SIBOR) would like to remind you that the government is offering an energy tax credit for adding a more efficient hot water heater to your home.
House Logic blogger, Gil Rudawsky, has provided the following tax credit limits and deadlines:
- You must have installed the water heater by Dec. 31, 2013.
- 10% of expenditures, up to $300, for a non-solar water heater, including installation. (You can spend a lifetime total of 10% of expenditures up to $500 for all approved energy purchases combined. If you already claimed energy tax credits up to this limit, you’re done.)
- Save receipts and labels for Uncle Sam.
- File IRS Form 5695 with your return.
There are many different kinds of hot water heaters, so the Energy Star site is a good bet for info. It’s very specific on what is and is not credit-eligible. For instance, it must have a thermal efficiency of at least 90%.
Don’t rely solely on contractors who may not know the details or who promise their products will get the credit in order to make a sale.
About The Staten Island Board of REALTORS® (SIBOR)
The Staten Island Board of REALTORS® (SIBOR) is the largest not-for-profit trade association in Staten Island, N.Y.
SIBOR exists to enhance the ability and opportunity of its members to conduct their business successfully and ethically; and to promote the preservation of the public’s right to own, transfer and use real property.
Comprised of over 1,600 members, SIBOR serves real estate agents, brokers and affiliated professionals throughout the borough and surrounding areas.
SIBOR is the provider of the Staten Island Multiple Listing Service Inc. (SIMLS), which works as a clearinghouse through which more than 250 local real estate firms exchange information on properties they have listed for sale. Together, its members participate in over 3,000 real estate transactions every year.
All SIBOR members belong to the New York State Association of REALTORS® (NYSAR) and the National Association of REALTORS® (NAR).
SIBOR may be reached at 718-979-0007 and viewed online at http://siborrealtors.com. SIBOR may also be visited on Facebook at “Staten Island Board of Realtors,” on Twitter via @SIBOR, and on YouTube at the Staten Island Board of Realtors and RelevantPR channels.
Media Contact: Barton Horowitz