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Tax Credits for Energy Efficient Homes

Filed by Michael Cross in Feature, Local News, News, Politics.
August 10, 2011

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Lawmakers and state officials got a chance to hear from supporters of home energy tax credits to decide whether to keep them.

Part of the second task force meeting on tax credits called into question a $2,000 to $4,000 credit for home builders to create an energy efficient home of 2,000 square feet or less.

Oklahoma Homebuilders Association Executive Vice President Mike Means says the tax credit is needed because builders might not be able to recoup their losses.

“So in order to be able to allow people to still be able afford these homes and not have to tack that on to the value of the house, this credit offsets some of that.”

But, the task force chairman, Representative David Dank, says he doesn’t believe tax payers should be paying for new homes.

The Oklahoma City Republican says voters need to be aware of credits like this which added up to nearly $4 million for 944 homes in 2009.

“It’s the same thing in congress, I mean people are learning that we’re giving away their money and they’re getting nothing in return for it. Other people are profiting off their taxes.”

Representative Dank also takes issue with the transferable aspect of the credit where homebuilders can sell the tax break to anyone from lawyers to insurance companies.

As many as nine more meetings are expected on tax credits dealing with subjects like venture capitol, home office, coal and wind power.

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