This summer, Alexandria is offering real estate tax exemptions for homeowners who install solar energy equipment in their homes.
The 2023 Solarize Alexandria program started this month and ends on August 31. It includes a free assessment, as well as discounts for tax-deductible olar equipment.
“The goal is to increase the deployment of solar power generation in our residential communities,” Mayor Justin Wilson wrote in his July newsletter. “In addition to reducing emissions and reducing your power bill, the City of Alexandria provides a real estate tax exemption for qualifying solar installations.”
The equipment would collect and use solar energy for “water heating, space heating or cooling or other applications which would otherwise require a conventional source of energy,” according to the tax exemption form.
The solar energy systems that would qualify for the tax exemptions are:
- Solar heating and hot water systems
- Passive solar energy systems
- South-facing windows used as solar collectors
Trombe walls (a sun-facing wall designed to collect solar energy and act as a thermal mass for heating the structure)
- Greenhouses integrated into the heating system of the structure
- Thermal storage systems
- Movable insulation
- Window shading windows for summer cooling.
How would residents get their money back? The city laid out this example:
The property owner has entered into a contract for a total of $12,000 to install solar energy panels ($8,000 in solar energy equipment and $4,000 for installation). Code Administration has completed their inspections certified the application to the Assessor. The $12,000, in this example, is considered the value of the exemption and would be deducted from the assessed value of the property every year for five years.
(The percentage or formula used is outlined in the Virginia Administrative Code. Many items such as solar panels or hot water systems are at 100% of cost and installation as shown in this example. Where other items such as south facing windows and greenhouses are based on a percentage or formula as stated in the Code.)
The tax savings is calculated as follows: $12,000 divided by 100, then multiplied by the current tax rate. The amount of tax savings over the five year period may vary depending on the tax rate that is in effect for each tax year.
The amount of tax savings over the 5 year period may vary depending on the tax rate that is in effect for each tax year.
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If you have been thinking about buying your first home or haven’t owned one in the last three years, THIS IS FOR YOU!
In the DMV area, it can be difficult to save the downpayment necessary for you to get into your own home. We have a solution. The Funder’s Summit!
We have assembled a summit with different municipalities to tell you how to access their funds for your home purchase.
Our local therapy practice is delighted to welcome Stacey Cali, Resident in Counseling, who has openings now for new clients. Stacey specializes in therapy for women, couples, teens and families. A graduate of George Mason University’s Clinical Mental Health Counseling Masters Program, Stacey is also passionate about working with people with addiction.
Stacey’s approach: “Therapy’s a powerful combination of reflection, support and action. You’ll find sessions are filled with empowerment, compassion, goal setting and a metaphorical shovel to dig deep to find the root of your difficulties and how to move past them.”
Adds Stacey, “As a therapist who works with women, teens, couples and families, I use a personalized style of counseling, tailored to you as an individual. You’re the expert in your life, I’m just here to guide you towards transformation and healing.”