How to Qualify for a Home Heating System Tax Credit or Utility Tax Credit

September 26, 2018

Most Coloradans will agree that they want to save money wherever and whenever possible. One great way to do so is through a home heating credit. Home heating credits are available for qualifying taxpayers who meet certain requirements.

Obtaining a home heating tax credit is a great way for all eligible Coloradans to save money. If you qualify for one of these tax credits, make sure you apply for it. If you do not meet the eligibility requirements, be sure to purchase energy-efficient heating equipment so you can still take advantage of this great program.

Any furnace that is 95% efficient or higher qualifies for the $150 tax credit plus any furnace with a high efficient main house fan gets $50.00

Keep reading to see if you qualify for this helpful tax credit.

Lawful Presence

Not only must you have permanent residency in Colorado for the entire year, you must also be lawfully present in the United States. If you meet this qualification, you must fill out the DR 4679 PTC lawful presence affidavit that can be found in the tax rebate (PTC) application. You should then bring the completed application to a Colorado Department of Revenue Taxpayer Service Center. You can also send the completed form by mail.

Income Level

The income level that is required for eligibility for a tax rebate changes frequently. You can check the current rate by checking the PTC Rebate Application Booklet. If your income falls in the right range, you have up to two years after the end of a calendar year to apply for your rebate.

Age Limits

To be eligible for a PTC rebate, either you or your spouse must be at least 65 years of age by the last day of the year (December 31). You may also be a surviving spouse (widow or widower) who is at least 58 years of age by the last day of the year.

Disability Status

You are eligible for a home heating tax credit if you were disabled for the entire year. There is no age requirement if you fit into this category.

Dependent Status

To be eligible for this tax credit, you must not be claimed as a dependent on any other person’s federal income tax return.

Alternate Methods

If you do not meet the above qualifications, there are still ways you can receive a home heating tax credit. If you made an energy-efficient heating purchase, such as an Energy Star furnace, for your home during 2015 or 2016.