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Aging in Place Tax Credits Get a Step Closer

(Next Avenue) Recently, a (barely) bipartisan group of Congressional members introduced The Senior Accessible Housing Act (HR 5254, for the C-SPAN crowd), which would provide a tax credit of up to $30,000 to people over 60 for aging-in-place modifications to their homes, such as widening doorways for wheelchairs and installing ramps, nonslip flooring, handrails and grab bars. (The credit would be nonrefundable, which means it wouldn’t be of use to those who don’t owe federal income taxes.)
Many of these modifications don’t come cheaply. Ramps can run as much as $4,000, installing grab bars and level handles throughout a home can go for $1,500 and you can spend $1,000 or so to widen a doorway.
Tenenbaum, founder of the Aging in Place Institute, believes The Senior Accessible Housing Act is the first federal bill to incentivize older Americans to prepare their homes for aging in place…
“If you can stay in your home safely, that cuts down on falls, which cost patients and insurance companies $34 billion a year,” says Tenenbaum.
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