Get $2,000 per energy efficient dwelling unit
Recent tax legislation extended the Energy Efficient Home Credit to developers of energy efficient homes and apartment buildings. The 45L Tax Credit, originally made effective on 1/1/2006, offers $2,000 per dwelling unit to developments with energy consumption levels significantly less than certain national energy standards.
Eligible 45L Tax Credit Multi-Family Buildings & Condos:
A dwelling unit should provide a level of heating and cooling energy consumption that is significantly less than certain national energy standards, IECC 2006, dependent on when the unit is sold or leased. Based on current construction trends, many developments already exceed these standards. All residential developments and apartment buildings completed within the last 4 years are worth assessing for potential 45L tax credits. Eligible construction also includes substantial reconstruction and rehabilitation. Homebuilders and developers can still claim the 45L tax credit retroactively if they did not claim them on previous tax returns.
Who can benefit?
- Multifamily Developers & Renovators
The following types of projects should be considered:
- Substantial reconstruction or rehabilitation
- Affordable housing (LIHTC)
- Student housing
- Apartment buildings
- Assisted living facilities
- Production home developments
- Residential condominiums
Specialty Tax Advisors, Inc. will Certify Eligible 45L Tax Credit Multi-Family Buildings & Condos:
- We will evaluate plans and specifications free of charge to see if you qualify.
- We will perform energy modeling analysis using IRS approved software.
- We will perform on-site inspection and testing upon satisfactory modeling results.
- We will issue tax certifications for each qualifying unit.
- We will co-ordinate with your CPA and Tax professionals.