Green Property Tax Cuts Now

A few hints today on tax initiatives and real estate stability. Let's start with taxes. New "green tax" initiatives are underway, and we are already in a position to benefit. The Texas property tax code allows an exemption of the amount of the appraised property value that arises from the installation or construction of a solar or wind-powered energy device that is primarily for the production and distribution of thermal, mechanical, or electrical energy for on-site use, or devices used to store that energy. So if you are ambitious enough to build a wind farm in your back yard, you could see significant tax advantages from your eco-friendly construction. Wind farms are not the only source of renewable energy, solar panels are also a viable solution for alternative energy and potential tax cuts. These tax cuts don't just apply to the home owner. Corporations are looking at a similar policy if they choose to invest in energy. Texas allows a corporation to deduct the cost of a solar energy device from the franchise tax in one of two ways: (1) the total cost of the system may be deducted from the company's taxable capital; or, (2) 10% of the system's cost may be deducted from the company's income. I am sure incentives like these will give corporations something to think about as they go into a new year and a new administration.

If you are interested in buying or selling real estate in Bryan College Station contact Cortiers Luxury Realty by clicking the following link, Bryan College Station Real Estate, or call the office at 979-985-5610.