Colorado residents who need to make modifications to their homes for health or safety reasons may qualify for the newly launched Home Modification Tax Credit program.
The Income Tax Credit for Retrofitting Home for Health Bill (HB18-1267) became effective Jan. 1. The vision of the new law is that those with an illness or disability be able to modify their homes without having to worry about financial constraints, according to a news release from the Colorado Department of Local Affairs.
HB18-1267 created a state income tax credit, up to $5,000 per qualified individual per year, available tax years 2019 through 2023 for eligible costs incurred while retrofitting a residence. Learn more about the bill and eligibility requirements at www.colorado.gov/pacific/dola/home-modification-tax-credit
