Click the pictures above for examples of the Tax Incentives program in action!
To be eligible for the 25% State Tax Credit:
The work is carried out on a building which has been determined to be a Qualified Residence
The building is rehabilitated according to the Secretary of the Interior’s Standards for Rehabilitation
The costs of the rehabilitation exceed ten thousand dollars ($10,000)
The rehabilitated building is the owner’s primary residence
The work is primarily rehabilitation and not remodeling
The Credit
There is a 25% credit for qualifying buildings. If, however, the building is determined to be vacant and blighted, the credit award is increased to 50%.
Tax Credits awarded by the state will not exceed $10 million in any calendar year. Credits will be granted on a first-come, first-served basis. The credits will be awarded when the project is completed. Only one State Residential Historic Rehabilitation Tax Credit is allowed per building.
Eligible Properties
A contributing element to a Cultural District
A contributing element to a National Register District
A contributing element to a locally designated historic district
A contributing element to a Main Street District
A contributing element to a Downtown Development District
A residential structure that has been listed or that is eligible for listing on the National Register of Historic Places
A vacant and blighted building at least 50 years old.
Vacant and Blighted Properties
A building is considered vacant and blighted if it has been unoccupied for six months, and if at least one of the following conditions exists:
The building conditions pose a danger to the community
The building is not being properly maintained
The building is becoming dilapidated
The building is attracting illegal activity
The building is a fire hazard
The building is a factor in depreciating property values in the neighborhood due to its poorly maintained state.
The Application Process Applications may be downloaded below
The application is a three part process. Each part requires approval or “certification” by the Division of Historic Preservation.
Part 1:
Provides certification that a building is historic and that it is located within a qualifying district.
Part 2:
Is used to describe the proposed rehabilitation project. This should include all work items on which money is being spent.
Part 3:
A Request for Certification of Completed Work, documents that the work was completed according to Standards.
*Please note that this tax credit program has been extended through December 31, 2015*
For more information or
first time tax credit inquiries please contact Jessica G. Richardson.
Applications are available upon request from the Division of Historic Preservation. To request a copy click here. If you plan to download the application information, it is highly suggested that you download all of the information that is indicated by the asterisks(*).
