WHY DON'T YOU FIX THIS BUILDING

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Historic Preservation Incentive Programs in New
York State
New York State Office of Parks, Recreation and
Historic Preservation
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Environmental Protection Fund

• Grant program
• Requires at least a 50 match

• Funds are allocated every year as part of the
  annual state budget
• Municipalities and not-for-profit organizations,
  including religious properties, are eligible to
  apply

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Environmental Protection Fund
Funding for the acquisition improvement
restoration preservation rehabilitation
protection reconstruction archeological
interpretation
Ephesus Seventh-day Adventist Church
of a historic property
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Real Property Tax Law Sect. 444-a Ithaca Bill
City of Auburn legislation creates a real
property tax exemption that preserves or
increases the historic character of real property
located within the City of Auburn. Goals
include

• increase incentives for property owners in
  historic districts to invest in the upkeep and
  rehabilitation of properties
• provide an incentive for the restoration and
  rehabilitation of commercial structures which
  qualify as landmarks in order to provide
  financial advantages, not available elsewhere in
  the City at this time, which may help to attract
  and retain business in the City of Auburn

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Real Property Tax Law Sect. 444-a Ithaca Bill
Auburn, continued

• assist homeowners who are interested in restoring
  their own properties but may not be able to
  afford to do so when faced with potential
  increases in taxation as the result of
  alterations which would qualify for this
  exemption
• provide financial incentives for investment in
  low-income residential neighborhoods which may
  contain landmarked buildings or districts
  designated within the area
• and provide a concrete benefit for restoring or
  improving historically or architecturally
  significant properties which are subject to the
  regulations of Chapter 178, Historic
  Preservation, of the Auburn Municipal Code.

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Real Property Tax Law Sect. 444-a Ithaca Bill
Auburn, continued Historic property shall be
exempt for taxation to the extent of any increase
in value attributable to such alteration or
rehabilitation The exemption is usually from
local property taxes and only in some instances
also from school district taxes Similar to other
incentive programs, the property must meet the
criteria for historic designation and plans must
be approved by the historic preservation
commission before the work begins
Qualified work is on the exterior only unless a
portion of the interior of the building has been
designated at the local level. Certain types of
interior work, such as conversions to
multi-family units, may not be qualified.
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Five Tax Credits
Federal Historic Preservation Tax Incentives
Program at 20 New York State Historic Tax
Credit Program for Income Producing Properties -
6 Federal Historic Preservation Tax
Incentive Program at 10 New York State Historic
Homeownership Rehabilitation Tax Credit -
20 New York State Barn Tax Credit-
25 Requires review and approval by OPRHP

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Tax Credit Review Process
The tax credit is a National Park Service (NPS)
program administered by SHPO SHPO reviews and
guides rehabilitation plans so that the work
follows the Secretary of the Interiors Standards
as defined by NPS NPS is responsible for final
project certification for federal
income-producing property tax credits
Programs requiring SHPO review 20 Federal
Historic Preservation Tax Credit New York State
Historic Tax Credit for Income Producing
Properties New York State Historic Homeownership
Rehabilitation Tax Credit
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20 Federal Historic Preservation Tax Credit
To be eligible

• Properties must be income-producing and listed in
  the National Register
• Expenditures must meet adjusted basis test
• Work must meet the Secretary of the Interiors
  Standards

The Emerson, NYC, Courtesy of Higgins Quasebarth
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20 Federal Historic Preservation Tax Credit

Certification involves a three-part
sequence Part One-Evaluation of
Significance SHPO staff determines whether the
building is eligible for the National
Register Part Two-Description of
Rehabilitation Buildings current condition
Plans for rehabilitation
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20 Federal Historic Preservation Tax Credit

Part Three-Request for Certification of Completed
Work Documentation of project implementation
according to Secretary of Interiors Standards
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New York State Historic Tax Credit for Income
Producing Properties-6
This is not an independent program, but must be
used in conjunction with the Federal Investment
Tax Credit Program projects approved for
Federal Historic Preservation Tax Credit
automatically qualify Owners can receive 30 of
the 20 federal credit value with a limit of
100,000
There is no separate application process after
NPS approves Parts 1 and 2 of the federal
application, SHPO issues a certification form
authorizing owners to take the state
credit Owners must claim the credit from the New
York State Department of Taxation and Finance
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10 Federal Historic Preservation Tax Credit

• Applies only to buildings
• Not listed on the National Register
• First placed in service before 1936, and
• Rehabilitated for non-residential uses

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NYS Historic Homeownership Rehabilitation
Credit-20
Qualifying buildings must meet all of the
following

• Owner-occupied residential structure
• Either individually listed on the State or
  National Register of Historic Places, or listed
  as a contributing building in a National
  Register-listed historic district
• Located in a distressed census tract defined
  as targeted areas under Section 143 (J) of the
  Internal Revenue Code
• Located in an area designated by the municipality
  as in need of renewal
• Located in an area for which the municipality has
  adopted a historic preservation and community
  renewal program

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NYS Historic Homeownership Rehabilitation
Credit-20
The credit will cover 20 of qualified
rehabilitation costs of structures up to a limit
of 25,000 in credits
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NYS Historic Homeownership Rehabilitation
Credit-20

• Qualifying Projects must
• Spend at least 5 of the total on the exterior
  work
• Obtain SHPO approval prior to the start of
  construction
• Project start date, including all planned
  expenditures, must be after January 1, 2007

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New York State Barn Tax Credit-25
Rehabilitation work on barns built before 1936
which are income-producing and used for
agriculture-related purposes may qualify for a
tax incentive
The credit will cover 25 of qualified
rehabilitation costs Work cannot materially
alter the historic appearance of the barn
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For more information
National Park Service Website
www.nps.gov/ Instructions www.nps.gov/history/h
ps/tps/tax/brochure1.htm10 Application
www.nps.gov/history/hps/tps/tax/hpcappl.htm Secret
ary of the Interiors Standards
www.nps.gov/history/hps/tps/standguide/rehab/rehab
_standards.htm Technical Preservation Services
Publications www.nps.gov/history/hps/tps/topics/
index.htm
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For more information
SHPO Website www.nysparks.state.ny.us/shpo/invest
ment/income.htm Barn Rehabilitation Tax
Credits Contact the NYS Department of Taxation
and Finance, Personal Income Tax at
1-800-225-5829 Real Property Tax Law Sect.
444-a www.orps.state.ny.us/legal/localop/444_a.htm
www.orps.state.ny.us/assessor/manuals/vol4/part1/
section4.01/ sec444-a.htm
Friends of Watertown
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State Historic Preservation Office
Division for Historic Preservation Field Services
Bureau Peebles Island State ParkPO Box 189
Waterford, NY 12188 [phone] www.nysparks.c
om/shpo New York State Office of Parks,
Recreation and Historic Preservation