Tax Incentives

Contact
Carole Moore
, tax incentives & grants coordinator 
carole.moore@dnr.state.ga.us phone 404-651-5566 fax 404-651-8739

Molly McLamb, tax incentives specialist
molly.mclamb@dnr.state.ga.us  phone 404-651-5567 fax 404-651-8739


State and federal government tax incentives are available for owners of a historic property who carry out a substantial rehabilitation.  All properties must be listed in, or eligible for, the National/Georgia Register of Historic Places, either individually or as part of a National /Georgia Register Historic District.  Project work must meet the Secretary of the Interior’s/Department of Natural Resources Standards for Rehabilitation.


Tax Incentives for Historic Rehabilitation programs



1.  Federal Rehabilitation Investment Tax Credit (RITC) – 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 (HPD), then forwarded to the National Park Service for final decision.  Program is available nationwide. more

2.  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.  Owner must increase the fair market value of the building by 50 – 100%, depending on its new use. more

3.  State Income Tax Credit for Rehabilitated Historic Property – A state income tax credit of  25% of rehabilitation expenses.  The credit is capped at $100,000 for personal residences and $300,000 for income-producing properties.  This program’s percentages and caps are effective for projects completed after January 1, 2009. more 
- Read annual reports here.

The National Trust Community Investment Corporation, a subsidiary of the non-profit National Trust for Historic Preservation, has information on various project financing options.  There are also many for-profit limited liability companies (LLCs) that provide consulting services for developers, allowing them to monetize federal and state tax credits, thus creating project equity.

Important Facts:

  • The applications are a two or 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 this office, and must be reviewed and approved by HPD, then afterward by the NPS for the RITC.  
  • There are substantial cost tests that must be met to qualify for each program.
  • See individual fact sheets (linked above) for details for the federal or state tax incentives.

Frequently Asked Questions

Case studies:

Waynesborough Academy Senior Residences - February 2012