TAX INCENTIVES
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.
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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.
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Applications for all three programs are sent to Georgia Historic Preservation Division (and afterward National Park Service for the Rehabilitation Investment Tax Credit).
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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.