2010
Property Tax Credits On Thermal Solutions In Montgomery County Maryland
The Department of Finance for Maryland`s Montgomery County has announced it will offer property tax credits on residential, owner-occupied structures equipped with solar thermal, geothermal and energy conservation devices. The tax credit is effective for all property tax years beginning June 30, 2008. The geothermal and solar property tax credit will be equal to 50% of the cost of the system, up to $ 5,000 for heating, cooling systems, and electricity generating systems, and $ 1,500 for water heating systems. Residents may claim only one geothermal or solar energy tax credit per year. The tax credit for energy conservation devices will be limited to the cost of the measure, up to $ 250 per fiscal year. Eligible costs include parts, components and accessories necessary to operate the device, as well as reasonable installation costs. Only costs incurred during the 12 months preceding a credit application are eligible for a tax credit.
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