This article is about the long awaited Storm Shelter Tax Credit…
I’ve lived in Alabama for more than 10 years and I still remember my first tornado warning.
In the small town, I previously lived in, we had a public safe room we could take shelter at. And I noticed that these public safe rooms were scattered across all of the Alabama counties except for the city of Huntsville and Madison.
By the way, if you have pets, you aren’t allowed to bring them to these public safe rooms and designated tornado shelters.
Dixie Alley vs Tornado Alley
Alabama, Louisiana, Mississippi, Tennessee, Georgia, and Arkansas are all a part of Dixie Alley . It was coined back in 1971 by a Storm Prediction Center director named Allen Pearson.
Tornado Alley includes parts of Texas, Oklahoma, Kansas, South Dakota, Iowa and Nebraska.
Nature doesn’t discriminate, each has had its own share of devastation.
The Storm Shelter Tax Credit Act (Act 2021-540)
From the Alabama House Bill 227, we got the Storm Shelter Act.
The bill helps to reduce the financial burden of families by providing a tax credit.
Taxpayers may receive a $3000 credit per household or 50% of the total cost of the construction, acquisition, and installation of the qualified storm shelter, whichever is less.
Currently, tax credits are effective for January 1, 2022 and will continue through the 2025 tax year unless changed by the Legislature.
What Kind of Storm Shelter Qualifies For The Alabama Storm Shelter Act?
- Shelter must be installed on/after January 1, 2022.
- Must be capable of withstanding an EF5 tornado.
- Shelter must be placed on taxpayer’s primary residence.
- Meet or exceed FEMA’s minimum criteria for design, construction, and operation of residential safe rooms.
Where Can I Purchase a Tornado Shelter in Alabama?
The Home Depot. They carry many varieties of storm shelters. Small to Large. Below-Ground, In-Garage and Above Ground. They have the lowest price on the market and as active-duty military or veteran, you get a 10% discount.
What Are The Benefits of Installing a Tornado Shelter
- Immediate access, no need to leave your home to find protection.
- All family members welcome, no discrimination towards pets.
- Peace of mind and less anxiety about storms.
- You get a tax credit to help pay for it.
- By having a storm shelter, you can increase the resale value of your home.
Summary
This has been a long time coming. There’s no longer a reason that you aren’t able to keep your family and/or pets safe. If you have the means, I’d suggest you get one before the funds run out.
The particularly productive months for Tornadoes in Alabama are March, April and November. Now is a great time to get one installed. Just in case.
Learn more about the Alabama Storm Shelter Tax Credit here.
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