State Income Tax Incentives
A state income tax credit of 25% of rehabilitation expenses. The credit is capped at $100,000 for residences and $300,000 for income-producing properties. CLICK HERE for more information.
State Preferential Property Tax Assessment for Rehabilitated Historic Property
Freezes the county property tax assessment for over 8 years. Available for personal residences as well as income-producing properties. The owner must increase their fair market value of the building by 50-100%, depending on its new use.
The application is a two/three part process, describing before and after rehabilitation. Ideally, project work should be submitted before work begins and be completed within two years.
Applications for all three programs are sent to Georgia Historic Preservation Division (and afterward National Park Service for the Rehabilitation Investment Tax Credit).
There are substantial cost tests that must be met to qualify for each program. CLICK HERE for more information.
Federal Income Tax Incentives
A federal income tax credit equal to 20% of rehabilitation expenses. Available ONLY for income-producing properties. The application is first reviewed by the Historic Preservation Division then forwarded to the National Park Service for final decision. CLICK HERE for more information.