In Wallonia, a region in the southern part of Belgium, there’s exciting news for homeowners. The government has announced an increase in the amount of renovation grants, along with a more streamlined process for obtaining them. This initiative aims to encourage more homeowners to undertake energy-efficient renovations, aligning with broader European goals for 2050.
Understanding the Current Situation
Belgium faces a significant challenge when it comes to energy efficiency. Currently, less than 5% of homes in the country meet the European Union’s 2050 standards for building energy performance. To address this, local authorities have been offering various incentives to motivate citizens to renovate their properties, especially from an energy perspective. Wallonia, in particular, has taken significant steps in this direction.
Increased Grants and Simplified Procedures
The Wallonian government has decided to not only increase the amount of renovation grants but also make the process of obtaining them simpler. One of the standout changes is the potential for subsidies to cover up to 90% of the renovation bill, a significant increase from the current 70-80%. Depending on the applicant’s income category, this base amount could be multiplied by up to six times! To support this initiative, the Wallonian government has allocated a budget of €90 million for 2023. These changes are expected to be implemented sometime during the year.
A Less Restrictive Application Process
There’s more good news for homeowners. While some grants will still require a housing audit to guide applicants in their renovation projects, the audit will no longer dictate the order in which the work should be done. This change eliminates the need for auditors to painstakingly verify work-related bills, a process that previously added extra costs and delays for applicants. This adjustment aims to remove a significant barrier that many faced when considering home renovations.
In anticipation of these new measures, a transitional framework has been established to encourage Wallonians to start their renovation projects sooner rather than later. For minor works, bills submitted to the administration for grant approval should be dated after November 1, 2022, and must be filed within eight months of the work’s completion. For major renovations, the submitted bills should be dated no more than two years before the grant application.
Changes in Tax Deductions
The realm of property registration rights is also seeing positive changes. Starting this summer, the tax deduction on these rights will double. It will apply to the first €40,000 bracket (up from the current €20,000) for properties valued up to €350,000. This change translates to a net gain of €5,000 for homeowners! For properties valued above €350,000, the tax deduction will decrease progressively, dropping to €20,000 for properties valued over €500,000.
However, it’s essential to note that this tax deduction is only available for primary residences. It doesn’t apply to secondary homes or properties intended for rental.
Conclusion
Wallonia’s proactive approach to encouraging energy-efficient renovations is a commendable step towards a greener future. By offering increased grants and simplifying the application process, the region is making it easier for homeowners to make necessary upgrades to their properties. As Europe marches towards its 2050 energy goals, initiatives like these play a crucial role in ensuring that individual regions and countries contribute effectively to the collective goal.
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