February 15, 2019

Home Modifications Tax Credits: How the livable homes tax credit makes updates affordable

According to the Virginia Department of Housing and Community Development, recent U.S. Census reports indicate that more than 950,000 Virginians have one or more disabilities, but a low percentage actually take advantage of Home Modifications Tax Credits. By the year 2025, more than 25% of Virginians will be over the age of 60, and the number of Virginians aged 85 or older will increase five times faster than the state’s total population growth.

home modifications tax credits, Home Modifications Tax Credits: How the livable homes tax credit makes updates affordable, Hampton Roads Mobility

If you need to move or to make home modifications to accommodate you own disabilities or those of a loved one, the livable homes tax credit may be able to help. The Virginia Livable Home Tax Credit (LHTC) program, one of the available Home Modifications Tax Credits, is designed to improve accessibility or universal visitability of residential units located in Virginia. Tax credits are available up to $5,000 for the purchase of a new accessible residence or for modifying a current home, covering up to 50 percent of retrofitting costs up to $5,000.

Home Modifications

Modifications may include wheelchair access into and out of the home, as well as widening doorways and hallways within the home for easy mobility; special sensory modifications for the hearing or visually impaired; adjustment of light switches and electrical outlets for easier reachability; installation of safety features in accident-prone areas such as bathrooms and the kitchen, stair lifts, and more.

Note that accessibility features provided in order to comply with existing Fair Housing, Equal Opportunity, Americans with Disabilities Act, or other local, state, or federal requirements are not eligible for tax credits. Also, accessibility features funded through the Granting Freedom Program, Indoor Plumbing Rehabilitation program, Community Development Block Grant program, or other local, state, and federal programs are not eligible.

home modifications tax credits, Home Modifications Tax Credits: How the livable homes tax credit makes updates affordable, Hampton Roads Mobility

Contact a Mobility Expert

Hampton Roads Mobility is a locally owned and operated group of home mobility experts ready to help you lead a mobile lifestyle. We offer stairlifts, modular ramp systems, power wheelchairs, power scooters, bathroom modification products (including grab bars, walk-in tubs, roll-in showers, and portable showers), even vehicle-related products. In addition, our technicians have more than 20 years of combined experience installing and servicing mobility equipment. Let us help you get settled into a more mobile-friendly environment. Contact us to get a free quote today.

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