Tax Breaks Can Help You Help the Earth

    By DAVID COLLINS

    Homeowners or builders who want to reduce their role in global climate change can get help from state and federal tax breaks.

    On April 3, Gov. Bill Rich-

    ardson signed into law

    $5 million in annual tax credits available to residential builders who reach goals set in state or national green-building guidelines. Another $5 million was earmarked for sustainable commercial construction. The tax breaks are available for both new construction and remodeling projects.

    Kim Shanahan, vice-president of the Santa Fe Area Homebuilders Association, said the association is now working to establish a statewide group to certify homes under guidelines recognized in the sustainable-building tax credit. He said the local association wants the BuildGreen New Mexico group established by the Albuquerque- based Central New Mexico Homebuilders Association to become an independent, nonprofit company offering green-building certifications statewide.

    According to the Alliance to Save Energy, which jointly operates a Web site describing tax credits for energy-saving home improvements with the Department of Energy, federal income-tax breaks are available for:

    * Insulation and exterior doors, including storm doors:

    10 percent of the cost of the product (but not the installation), up to $500. Includes materials to seal air leaks such as caulk, weather stripping and foam sealants.

    * Central air conditioner, heat pump, or water heater: Up to $300 toward the full purchase price, including installation costs.

    * Exterior windows, skylights and storm windows: 10 percent of the total cost, up to $200. All windows with the ENERGY STAR label, the government's symbol for energy efficiency, qualify.

    * Pigmented metal roofs:

    10 percent of the cost of the product (but not the installation), up to $500 for metal roofs with pigmented coatings that meet ENERGY STAR requirements.

    * Furnace or boiler: Up to $150 toward the full purchase price, and/or $50 for an efficient air-circulating fan in a furnace, including installation cost.

    For more information, log on to www.ase.org/taxcredits.

    (c) 2007 The Santa Fe New Mexican. Provided by ProQuest Information and Learning. All rights Reserved.