Does Your Property Qualify For a Tax Credit?

Under the American Recovery and Reinvestment Act of 2009, energy tax incentives were amended for commercial building owners. Commercial building owners can receive a deduction up to $1.80 per square foot if their property saves a minimum of 50 percent on energy costs, including lighting, heating and cooling, when compared with national standards. This deduction applies to newly developed buildings with energy conservation systems as well as retrofitting existing buildings to improve their energy consumption to within the 50 percent savings requirement. 

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