Tax Credits for Replacing Your Roof

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Published: January 24, 2012
By: Gil Rudawsky
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Did you literally put a new roof over your head in 2011? You may be eligible for a $500 energy tax credit for the roof replacement on your 2011 return.

Effort: Low 1 day (research)
Saves: High Up to $45/mo (cooling bills)
Investment: High $21,200 (new roof)

Sometimes, replacing a roof isn’t worth it

If your roof is in perfectly good shape, even the savings and tax break may not be good enough reasons to get a new one. Consider other options:

A roof coating—a material painted over your existing roof that offers insulation and sun reflection, says Silvertooth. Roof coating costs about 75% less than replacing a roof, though it doesn’t qualify for the tax credit.

Add more insulation to your attic. This home-improvement project can even be tackled by weekend warriors, and it qualifies for a federal tax credit.

This article provides general information about tax laws and consequences, but is not intended to be relied upon by readers as tax or legal advice applicable to particular transactions or circumstances. Readers should consult a tax professional for such advice, and are reminded that tax laws may vary by jurisdiction.

Gil Rudawsky

Gil Rudawsky has covered business and consumer issues for 18 years, most recently as a deputy editor at the Rocky Mountain News. He lives in a house built in the 1930s, and always keeps the home’s character in mind when making upgrades.

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