Tax Relief for Water Conservation and Stormwater Management Rebates
New rules ensure that money received from water providers, stormwater management companies, or local governments for water conservation or stormwater management efforts will not be counted as taxable income. This means citizens investing in such solutions can expect greater financial benefits, as the received support will not be reduced by taxes. These changes aim to encourage more efficient water use in homes.
Key points
Money received for installing or purchasing water-saving devices (e.g., efficient toilets, irrigation systems) will not be taxed.
Financial support for stormwater management solutions (e.g., rain barrels, rain gardens) will also be tax-exempt.
These changes apply to amounts received after December 31, 2021.
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