Friday, 08/11/2024 | 07:55 GMT+7
Starting this summer, property owners in Ventura will be able to make energy-saving and water-efficiency improvements and pay them off over time through their property tax bills.
The California Home Energy Renovation Opportunity (HERO) program gives property owners five to 20 years to pay off improvements, and that interest is tax deductible. It’s a Property Assessed Clean Energy program, which under state law allows for renewable energy and efficiency home improvements to be financed via assessments on property.
The City Council voted to join the HERO program last month. The city anticipates its participation will not cost anything, a staff report notes.
“Six other cities in Ventura County have already approved and launched HERO, including Fillmore, Ojai, Oxnard, Port Hueneme, Santa Paula and Simi Valley,” according to a news release by the HERO program.
Statewide, 297 communities have adopted HERO, totaling over $570 million in financing, the release states.
“Homeowners know that investing in energy and water efficiency saves money in the long run. Now most homeowners can access affordable financing to make these efficiency upgrades,” Blair McNeill, vice president of community development for Renovate America, said in the release. Renovate America administers the HERO program.
Eligible projects include solar panels, heating and cooling systems, roofing and insulation. To reduce water use, it includes installation of high-efficiency toilets, faucets and showerheads, drip irrigation systems, gray water systems and drought-tolerant landscaping.
Anh Tuan