The Sonoma County Energy Independence Program has increased interest rates. The Energy Independence Program allows property owners to finance improvements with no up-front costs and repay the amount, with interest, through property tax assessments over a term of 10 or 20 years. Supervisors yesterday approved an interest rate hike on new financing for the program by a half percent to 7.99 percent effective immediately. Financing is available from a minimum of $2,500 up to a maximum amount that equals 10 percent of a property’s market value. Interest rates remain fixed, and the assessment is attached to the property, not the owner. Since its inception in 2009, the county’s Energy Independence Program has disbursed more than $105 million to 3,208 projects.
Sonoma County Energy Independence Program Raises Interest Rates to 7.99 Percent
