State of Colorado Income Tax Credit up to $5000 for Home Modifications
The Income Tax Credit for Retrofitting Home for Health bills (HB18-1267, HB19-1135 and SB23-196) created a state income tax credit to help people with an illness, impairment or disability retrofit their residence for greater accessibility and independence. It allows for up to a $5,000 credit per person in the family with a disability. The credit is available for home modifications completed in tax years 2019 through 2028.
Changes made to the residence may include, but are not limited to:
Installing or building ramps
Modifying bathrooms
Installing grab-bars
Widening doorways
Modifying kitchen facilities
Installing specialized electric and plumbing systems that are necessary to accommodate medically necessary equipment and supplies
READ MORE ABOUT THIS OPPORTUNITY Home Modification Tax Credit