Many states across the country offer tax holidays to their residents in celebration of the back-to-school season, for example, or even to promote purchases of natural disaster supplies in locations such as Alabama, Louisiana and Virginia. In Maryland, however, we are fast approaching a tax holiday for energy-efficient appliances, so if you’re hoping to make some earth-friendly upgrades to your home, it may be a good time to do so.
From February 16-18, Maryland residents can enjoy a break from the state’s 6 percent sales tax on qualifying Energy Star products. Items such as air conditioners, refrigerators, heat pumps, compact fluorescent light bulbs, dehumidifiers and thermostats that meet or exceed the Energy Star efficiency requirements developed by the U.S. Environmental Protection Agency and the U.S. Department of Energy will be included in this tax holiday. Those interested in learning more can find a list of Energy Star qualified items here.
Otherwise, you can look for appliances with an Energy Star label which signifies that a product will help you reduce your monthly energy bills without sacrificing the performance and features you want.
According to Comptroller of Maryland, a website that provides tax information and assistance for people who reside in the East Coast state, this tax holiday will take place each February unless otherwise noted.
If you’re interested in converting to a more energy-efficient home, contact a home inspection contractor. They can perform an energy audit and help you determine where to get started. Additionally, as we’ve mentioned before on this blog, some key tax credits made it into the American Taxpayer Relief Act of 2012 as part of the fiscal cliff deal, meaning that homeowners can save up to $500 on energy-efficient upgrades.