In Massachusetts, residents can receive a state income tax credit for installing a wood-burning stove as an energy-efficient heating source. This tax credit is part of the Energy Property Tax Credit program, which aims to encourage homeowners to use renewable energy sources. At New England Hearth & Home in Canton, MA, we have a variety of wood models in our showroom that are eligible for this tax credit, allowing you to save money while making your home a cozy retreat. In this blog, we will discuss this tax credit, how to apply for it, what models are available, and how New England Hearth & Home can help.
What Is the Energy Property Tax Credit in Massachusetts?
The Energy Property Tax Credit is a state income tax credit available to Massachusetts residents to purchase and install certain energy-efficient home heating systems. This includes wood-burning stoves, which are considered a renewable source of energy because they use wood as fuel instead of fossil fuels, such as oil or gas. Homeowners can receive a credit when they purchase and install a wood stove in their primary residence.
How Much Tax Credit Can You Receive for Installing a Wood-Burning Fireplace or Stove?
The amount of the tax credit depends on the cost of the wood stove and installation. Residents can receive up to a 30% tax credit and up to $2000 back (Forge & Flame, ‘Rebates & Tax Credits’) when they purchase and install an eligible model. When you purchase a wood stove from our showroom, our team can help you determine the cost and potential credit amount.
What Wood-Burning Stoves & Fireplaces are Eligible for the Tax Credit?
At New England Hearth & Home, we have a variety of wood-burning stoves and fireplaces that are eligible for the Energy Property Tax Credit. This includes models from top brands such as Regency and Vermont Castings, which are known for their efficiency and design. Our showroom showcases a range of styles and sizes so you can find the perfect fit for your home.
How Can I Apply for the Energy Property Tax Credit?
When our team helps you select and install a wood-burning stove from our showroom, we will provide all the necessary documentation for your tax credit application. We can help walk you through the process and find all the credits you may be eligible for. It is important to keep all receipts and documentation related to the purchase and installation of your wood stove to claim the tax credit.
Visit Our Showroom in Canton, MA, to Learn More About the Energy Property Tax Credit & Explore Our Wood-Burning Stove Models at New England Hearth & Home
Our team at New England Hearth & Home is dedicated to helping homeowners improve their homes while taking advantage of money-saving opportunities. Under the Energy Property Tax Credit, you can save money while investing in a wood-burning stove or fireplace that will add warmth and beauty to your home. We also offer 0% financing for 6 months on all major purchases, making it even easier to upgrade your home. To learn more, visit our showroom, contact us online, or call us at 781-562-0771!
