Tax credits provide a great incentive to preserve, restore and rehabilitate historic buildings. Any building listed in the National Register of Historic Places can qualify for these programs. Owners of historic homes can be reimbursed for 25-30% of the qualified rehabilitation expenses they spend on the project through state income tax credits. Owners of income-producing property are eligible for 25% of their qualified rehabilitation expenses as a state income tax credit and 20% of their qualified rehabilitation expenses as a federal income tax credit. Owners of any qualifying property are eligible to freeze their property tax value at the pre-improvement rate for 8.5 years.
Historic Macon Foundation leads the state in submission and approval of tax credit applications. If you are interested in pursuing these programs with Historic Macon’s assistance, please contact Matt Chalfa, at email@example.com or 478-742-5084.