Apr 24
Saving Green by Going Green: Eco-Friendly Tax Incentives
There are plenty of reasons for you to choose green alternatives when building, not the least of which are the health of the planet and the health of you. But perhaps, so far, that hasn’t been enough to truly motivate you; perhaps you need a little more incentive. Well, the state of Texas has provided you with just that, an incentive - a tax incentive to be exact.
Property owners with solar, wind or biomass power sources installed on-site are eligible for a 100-percent property tax exemption on the appraised value of the device. Installers, along with the manufacturers and sellers, are eligible for a franchise tax exemption. Corporations with said devices can deduct the item’s cost or take ten-percent of it from the company’s income. With solar, wind or biomass power sources installed, companies are also eligible for economic development credits. And that’s just for power sources. There are other incentives for other eco-friendly additions.
The next time you decide to make a change to your home or company, think green and you’ll save green. Invest in alternate energy sources and power-saving materials., and take the natural route - the one that won’t deplete the Earth. You’ll be ensuring that you, your home and your wallet are sustained longer.
For more information on tax incentives in your area, call the Comptroller of Public Account, Tax Policy Division.
