Mar 9 2009
Replacing a garage door in 2009 and 2010 can do more than generate curb appeal; it also can decrease energy costs and save homeowners up to $1500 off the bottom line of their income taxes.
Thanks to the new 2009 stimulus legislation signed by President Obama on Feb. 17, 2009, U.S. homeowners can earn up to a $1500 tax credit for buying qualifying insulated garage doors. Full details on the tax credit, along with information about garage door styles and local dealer installers, can be found at GarageWowNow.com, a non-commercial website sponsored by the garage door industry.
Tax credits are available for qualifying garage door purchases placed in service from Jan. 1, 2009, through Dec. 31, 2010. The maximum tax credit a taxpayer may claim from all qualifying improvements combined is a whopping 30 percent of the cost of each product and $1500 over the lifetime of the tax credit periods (2009 and 2010). To be eligible for the tax credit:
- The door must be an insulated residential garage door, installed on an insulated garage.
- The door's U-factor must be less than or equal to 0.30, even if the door contains windows.
- The door perimeter must be able to control air infiltration.
- The door must be expected to remain in service for at least five years.
- The garage must be part of the taxpayer's principal U.S. residence.
A new garage door can also significantly improve a home's appearance and value. The garage door can comprise a third or more of the home's front appearance. A stylish new garage door can dramatically differentiate a home and add style, value and curb appeal. A recent online survey revealed that 71 percent of homeowners who recently replaced their garage door believe it definitely increased their home's value.