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TYPICAL APARTMENT COMPLEX COST SEGREGATION EXAMPLE
Cost Basis: $22,465,000
Accelerated: $4,942,300 (22%)
First Year Tax Benefit: $494,230
Five Year Tax Benefit: $5,510,084
Do you know about the 45L Tax Benefit? Are you the original owner? 45L Tax Credit: Recent tax legislation extended the Energy Efficient Home Credit which offers a 45L Tax Credit of $2,000 per dwelling unit to developers of energy efficient apartment buildings.
Project characteristics for 45L:
• Must be three stories above grade or less (not including below-grade parking)
• Some energy efficient features*, such as: wall insulation R-13 thru R-19+, roof insulation R-38+, double/triple pane windows, vinyl low E windows, insulated exterior doors, reflective roofing materials, air conditioning with SEER ratings 13+, 80%+ efficiency gas furnaces, or hydroponic heating systems.
• All apartment buildings and residential condominium developments completed within the last 4 years are worth assessing for potential 45L tax credits. Eligible construction also includes substantial reconstruction and rehabilitation.
• Developers can still claim the 45L tax credit retroactively if they did not claim them on previous tax returns.
$2000 in tax credits p/unit for 45L
100 Qualified Units=$200,000 in 45L Tax Credits
500 Qualified Units=$1,000,000 in 45L Tax Credits
1,000 Qualified Units=$2,000,000 in 45L Tax Credits
2,000 Qualified Units =$4,000,000 in 45L Tax Credits