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Governor Signs Tax Breaks & Tax Holiday Bills
Thursday March 22, 2007 6:28pm   Reporter: Manuel Quinones   Posted By: Webteam
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Homeowners Fighting Higher Tax Assessments
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Across Virginia - Virginia wants to make it cheaper for you to heat your home.  Governor Kaine just signed a bill to give you a tax break on home heating stoves that use alternative fuels.  We're talking about all sorts of alternative fuels.  Things like wood pellets, even corn.

The new law basically gives you a sales tax break on these stoves starting in July.  Manufacturers say they're a great way to heat your home for less.  Turns out an area company, England's in Amherst County, makes many of these stoves.

Workers say they've become more popular in recent years and they're working to stay ahead of the curve.

Todd Hudson, England's Stove Works - "We still have a couple of models that do very well that burn wood pellets only.  Our newer units will burn wood pellets, corn.  And our latest unit will also burn other agro fuels."

In fact, England's was testing this new product when we dropped by there Thursday.  Many agro fuels are still more rare than wood pellets and corn.  But they are in the increase.

Hudson - "Now folks are burning anything from cherry pits, to alfalfa that has been pelletized, there is talk of also pelletizing such things as saw grass."

You may also want to wait before buying a new appliance, the state wants to help you buy an energy efficient one.  Kaine signed off on a four-day sales tax holiday in October for you to buy certain Energy Star qualified products.  Their sales price has to be $2,500 or less.

And there are other breaks in the works.  One of them is another tax holiday for one week in May.  That's for you to buy supplies and equipment for hurricane season.  Another one would mean about 140,000 low income Virginians will eventually be able to stop filing taxes.

It expands the minimum income to have to file taxes from $7,000 to $11,950 for individuals.  For couples, it will go up from $12,000 to $23,900 dollars.  The state will phase-in these changes through 2012.

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