Assembly Bill 811 is now California law. The Desert Sun ran an article today. Read the article HERE.
AB 811 allows municipalities to provide low-cost loans to homeowners for the express purpose of installing solar panels and/or purchasing/installing an energy efficient A/C, windows, etc. The loan gets placed on the property's tax roll as an assessment. The loan is paid off over a 20 to 30 year period and can be paid off early if desired. If a homeowner decides to sell their home during the repayment period, the assessment can be paid off at transfer, or the new owner can assume the assessment.
I think this is a great law that, hopefully, will result in more solar panels on top of desert homes. I believe, too, that those homes with solar panels will be attractive to future buyers and will likely bring higher sales prices. I look forward to negotiating the sale of a home that has a "solar assessment" attached to it!
What do you think about this new law? Do you plan to take advantage of the opportunity when Palm Springs institutes its program? If you're a resident of Palm Desert, you will have the option soon!
Russell Hill 760.902.3121, RussellHill.net
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