New York State Taxpayers May Get This Credit Soon

The flood watches and warnings are still in place for many parts of New York State. The snow is melting fast and the rain is still falling. The January thaw sure has been a strong and quick one this year.

The forecast does call for a cool down and even a few snow showers. That should help to slow the streams and creeks a little bit and bring some relief to the hardest hit areas.

However, there are some homeowners who are going to be drying out their belongings and basements after this round of storms and there is one lawmaker who is trying to get those who need to install or need to repair a sump pump, a tax credit.

In 2021, Senate Bill: S3902:

Establishes a sump pump installation and replacement tax credit for homeowners who use the home as their principal residence and who have an income of less than $250,000.

At last check, this only made it as far as a committee.

The New York State senate may want to review this again as the flooding has been a big issue for much of the State this past year.

There are few things more frustrating than having to deal with a flooded basement. This may be a good time to install a new pump or battery backup as the winter and spring seem to collide more often.