Starting Jan. 1, some homeowners can receive a tax credit worth $3,000 if they install storm shelters with their home.
Homeowners in Alabama can qualify for the credit.
The Alabama Emergency Management Agency will inspect the shelter. It needs to be FEMA approved.
After approval, a credit certificate is provided.
Storm shelter installation credit details
The credit will be for either $3,000, or 50% of how much it was to buy and build the shelter. Whatever amount ends up being less will be the credit.
This isn’t a grant for installing a storm shelter, it is a tax credit.
There is a limit for $2 million dollars. If you wait too long and the money is gone, you will not receive a credit.
Considering building or installing a storm shelter? You can get up to a $3000 tax credit starting in 2022. It is something you hope you never have to use, but it is a lifesaver (literally) if you need it.
— Pam Howard (@ElectPam_Howard) December 30, 2021
Why the credit is for storm shelters in Alabama
Having a shelter at your home leads to safety quicker than rushing to a community shelter.
For the structure to pass inspection, it needs to survive an EF6 tornado. That is a tornado with winds over 200 mph.
The resident’s property needs to house the shelter. Another shelter may not exist.
If you have questions, you can reach the Alabama Emergency Management Agency at 205-280-2200.
For questions about the tax credit, call the Alabama Department of Revenue Individual Income Tax. Call 334-242-1170 Option #1.
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