Sonoma County's innovative program to charge energy-saving home improvements against future property tax bills is two years old, and growing.
The projects in the SCIEP program can be as small as $25,00 with no upper limit. Property owners can elect to repay the amount loaned over 5, 10 or 20 years. Beginning this July, participants will be required to submit before and after utility bills, to more accurately track the resulting benefits. But SCEIP manager Liz Yeager says she's confident that additional reporting will confirm a desirable outcome.
Because the loan is attached to the home or building, rather than a debt held directly by the owner, Yeager adds, the criteria for qualifying for participation are less complicated that most other types of financing.