Historic Tax Incentives

Federal

A 20% income tax credit is available for the rehabilitation of historic, income-producing buildings that are determined by the Secretary of the Interior, through the National Park Service, to be “certified historic structures.”  In order to qualify for the tax credit, the rehabilitation must meet three criteria:
1.    Building must be certified as an historic structure by the NPS.
2.    Tax credit is only available to properties that will be used as a business or for some other income earning purpose.  A “substantial” amount must be spent rehabilitating the historic building.
3.    Rehabilitation work must meet Secretary of the Interior’s Standards for rehabilitation as defined by the NPS.

State

State Income Tax Credit of 25% of Rehabilitated Expenses: Capped at $300,000 for income producing properties.
State Preferential Property Tax Assessment for Rehabilitated Historic Property: Freezes county property tax assessment for 8 years.
For more information on these federal and state incentives visit the Georgia State Historic Preservation Office’s tax incentives website or contact:

Carole Moore, tax incentives and grants coordinator
carole.moore@dnr.state.ga.us
Phone 404-651-5566
Fax 404-651-8739
or
Rachel Klaas, tax incentives specialist
rachel.klaas@dnr.state.ga.us
Phone 404-651-5567
Fax 404-651-8739

Local

Athens-Clarke County Local Option Tax Incentive for Historic Property is a tax deferment program for historic resources designated under an approved local ordinance and listed either by the State Register or the National Register of Historic Places.  The law provides an owner of historic property an eight year-freeze on property tax assessments.
Local Property Tax Freeze fact Sheet
For more information contact:

Amber Eskew, Historic Preservation Planner
Amber.Eskew@athensclarkecounty.com
120 W. Dougherty St.
Athens, GA 30601
706-613-3515