States weigh tax credits for ramps, grab bars to help seniors stay at home
Wheelchair ramps are among the home modifications that older adults may need to stay where they live. Several states have considered bills that would give tax credits to residents who make their homes more accessible.
Most seniors and aging baby boomers want to remain in their homes as they grow older. But to do that, many will have to retrofit their homes to accommodate them if they become frail or disabled — and that can be prohibitively expensive.
It can cost $800 to $1,200 to widen a doorway to accommodate a wheelchair, $1,600 to $3,200 for a ramp, and up to $12,000 for a stair lift. Major remodeling, such as adding first-floor bedrooms or bathrooms, can cost much more.
Virginia and at least three counties in the U.S. have approved tax credits for residents who make their homes more accessible. Modifications include adding ramps to create step-free entrances, widening doorways and putting grab bars in bathrooms.
Read more: http://host.madison.com/wsj/business/states-weigh-tax-credits-for-ramps-grab-bars-to-help/article_3a3e23c4-16a0-58e7-943f-cb944541669d.html
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