It’s that time of year again!
You spent a lot of time indoors over the winter, and you’ve noticed that your costs are getting higher, and that repairs need to be made around the house sooner rather than later.
Well fortunately, there are plenty of incentives being offered by the provincial government, city of Winnipeg and Manitoba Hydro to encourage making Earth friendly renovations to you home!
So here are the grants, rebates, and tax credits that Manitoba homeowners should know about in 2017!
PROGRAMS OFFERED BY THE PROVINCIAL GOVERNMENT
The following list is all the incentives that the Government of Manitoba offers to all of its citizens:
- All Manitoban citizens are eligible for a $700 Property Tax Credit.
- You must pay at least $250 in property tax before you can apply for the credit.
- Seniors who earn less than $40,000 in their household are also eligible for an additional $400 in tax credits, making their total $1100.
Manitobans who are installing new, green forms of energy are eligible for rebates for the following forms of energy:
- Geothermal Pump Systems
- 7.5% credit for geothermal heat pumps that are manufactured in Manitoba for use in Manitoba.
- 15% on the remainder of the capital costs.
- Solar Thermal Energy Systems
If you install a solar thermal energy system you can receive a 10% tax credit on the capital costs for installation. ‘
- Biomass Fuel Energy Equipment
If you are planning to use biomass fuel energy, you can receive a 15% tax credit for capital costs associated with installing.
In addition to the above tax credit, if you live in a natural gas service area, you can receive a grant worth $2,600 for installing geothermal energy in your home.
- If your area has experienced a natural disaster, the Government of Manitoba may declare it eligible for Disaster Financial Assistance.
- Items considered for coverage includes Beds, essential furnishings, essential clothing, furnaces, water heaters, fridges, stoves, computers and, televisions.
- There is a deductible of 20% of the assessed damage.
- The maximum amount of assistance provided is $240,000.
If you are installing a secondary suite, you can apply for a loan that will cover up to 50% to a maximum of $35,000 for the costs.
If you are looking to make some major renovations to your home, you can receive up to $20,000 ($23,000 if you live in a Northern or Rural community) for those renovations.
The renovations must be related to one of the following: structural, plumping, fire safety, electrical, or heating.
- If you are low income and need to make emergency repair to your home, you can receive up to $5,000 ($9,000 if you live in the North or a remote community).
- All repairs must be completed within 90 days of approval.
- If you are looking to a buy a home in rural Manitoba, you can get two loans for a down payment assistance: one at 10% of the purchase price and another at 15% of the purchase price.
- As well you can receive a $1500 grant to pay for legal fees and other costs.
- Through this program you will also have your Land Transfer Tax and Fees paid by Manitoba Housing.
After submitting an application to the Manitoba Agricultural Services Corporation, you can receive up to 80% of your school property tax.
- If you own a rental property, you can receive up to $24,000 per bed unit for repairs to the property.
- This grant does not have to be paid back unless you violate the terms of the agreement.
If you are over 55 and a homeowner, you are eligible to a tax credit of up to $175.
- Seniors School Tax Rebate
- If you are 65 or older, you are eligible for a tax rebate up to $470.
- If your income is below $40,000 you are guaranteed to get the full rebate.
PROGRAMS FOR PEOPLE WITH DISABILITY
- If you are a homeowner with a low income, or a homeowner who rents to someone with a low income, and are looking to make improvements to improve mobility in your home, you can receive up to $16,000 to cover the costs.
- This assistance does not have to be paid back as long as you do not sell the home within five years.
If you have a disability and your home has become infested with bed bugs, this program will provide free cleaning services, to help remove the bed bugs.
CITY OF WINNIPEG PROGRAMS
The following is a list of programs that are available for Winnipeg residents:
- A grant of up to $3,000 is given out for emergency repairs.
- Currently available for only the following areas: William Whyte, North Point Douglas, Spence, and Centennial.
- If you are planning at least $10,000 in repair for a designated heritage building, you could receive a tax credit of up to 50% of the private investment in the building.
- The credit can be used over a ten year period, towards any form of tax (property, business, amusement) that the city applies to your program.
If you are planning at least $10,000 in repairs (or 20% of the property value) you can receive a grant of up to 80% of the property tax over 12 years.
PROGRAMS OFFERED BY MANITOBA HYDRO
Manitoba Hydro offers many different programs that are homeowners should know about! Here is all of them:
- If your household is low income but you would like to improve your energy efficiency, Manitoba Hydro will do a free inspection of what kind of upgrades can be made.
- Through this program you could receive free insulation, a natural gas furnace for $9.50 a month for five years, and/or a $3,000 rebate for the purchase of a high efficiency natural gas boiler.
If you install a heat recovery ventilator for your furnace, you can receive a $150 rebate after purchase.
If you have a home that was built before 1999, you are eligible to receive a rebate of 50% of the cost.
- If you purchase Energy Star certified LED lighting products, you could receive an instant rebate of 50%.
- Rebate is applied in store.
- If you are building a new home and would like to make it energy efficient, Manitoba Hydro will offer you potential rebate upwards of $12,000.
- The new home must be 20% efficient than the average home.
- As a Manitoba resident you can apply to get a loan up to $30,000 to purchase solar energy for your home.
- For every watt you install at your home, you can receive a $1 incentive up to the up to a maximum of 200 kw, or $200.
Manitoba Hydro customers are eligible to receive a free kit containing: low flow showerheads, low flow faucet aerators, water heater pipe wrap insulation, plumber’s tape, and a thermometer for your refrigerator or freezer.
You can borrow up to $10,000 for your property to have service extension, or move your power lines from overhead to underground.
- Are you thinking of making your energy more green? This program will loan you up to $30,000 over 15 years.
- The loan payments will be applied to your Manitoba Hydro monthly bill.
- If you are thinking of making upgrades to your gas and electrical systems, the Energy Finance Plan, you can get a loan between $500 and $5,000 for the upgrades.
- The current interest rate is 6.75%.
- Maximum finance term will vary depending on the type of upgrade.
- If you are upgrading your insulation, space heating equipment, or water heating and conservation, this program will loan at minimum $500.
And that covers it! That is everything that Manitoba homeowners should know in 2017. Now you can use that extra money for investments, saving for a child’s college fund, or best of all, Jets season tickets!