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25% May Use Tax Rebate for Home Improvement

With checks already in the mail, you may be wondering how you are going to spend (or save) the tax rebate that is part of the government’s economic stimulus plan. According to a survey conducted by building products manufacturer Johns Manville and reported on the Building Online web site, 24 percent of U.S. homeowners are “considering using” the money they will receive as part of the federal economic stimulus package to upgrade or improve their homes. One in five said they would “definitely use” their rebate money for a home improvement project. Respondents had definite ideas on what those projects would be. Here’s how they said they’d spend the rebate: “household upgrades, including landscaping (23 percent) or an upgrade of the bathroom (13 percent) or kitchen (12 percent); improving their homes’ energy efficiency, including adding attic insulation (9 percent), caulking or sealing (4 percent), or installing energy efficient light bulbs (4 percent); or painting a room (10 percent).” How will you spend your rebate?