New York State Preservation Tax Credit
Residential and Commercial Properties
The NYS Historic Residential Properties Tax Credit Program will cover 20% of qualified rehabilitation costs of owner-occupied (including condominiums and cooperatives) historic houses, up to a credit value of $25,000.
This program requires the following qualifications:
- The building must be individually listed in the State or National Register of Historic Places, or in a listed historic district (such as Newburgh's East End Historic District).
- The building must be also located in a qualifying “distressed” census tract, and at least $5,000 must be spent on the project.
- The homeowner must be a NYS taxpayer.
- The project must spend at least 5% of the total construction on exterior work.
- The project must first be approved by the Office of Park Recreation and Historic Preservation (OPRHP) prior to commencement of construction.
If you have questions about the program, or to find out if your home is eligible, please contact Sloane Bullough at the New York State Office of Parks, Recreation and Historic Preservation at 518-237-8643, ext. 3252.
Federal Historic Tax Credit
If you own a historic building that could use a little work or even a lot of work, and you want to maintain its architectural value, then you need to know about the preservation tax credit.
The credit is a substantial federal tax break that helps offset the cost of rehabilitating an older building. Equally important, the tax break helps ensure that New York State's historic buildings are renewed and preserved.
The Historic Preservation Field Services Bureau can guide you through the tax credit process and provide expert advice.
For contact info for the Field Service Bureau responsible for the City, email: nps_hps-info@nps.gov
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