Federal Rehabilitation Tax Credits

 

The owner of a property listed in the National Register of Historic Places may qualify for a federal rehabilitation tax credit.    The credit is equal to 20 percent of the owner’s cost of rehabilitating listed commercial and residential buildings.   To qualify, the properties must be income-producing; for instance, a dwelling used solely as the owner’s residence would be ineligible.

 

Another rehabilitation tax credit, totaling 10 percent, is available only for certain non-historic commercial buildings constructed before 1936.   The buildings must be located in historic districts listed on the Nation Register, but they must also be noncontributing to the district.   Historic buildings in the district are not eligible for this tax credit.

 

All rehabilitations must adhere to the secretary of the Interior’s Standards for Rehabilitation.

 

For details, please contact the Rehabilitation Tax Credit program manager at the Virginia Department of Historic Resources central office in Richmond (804)367-2323

 

Federal Rehabilitation Grants

 

Federal grants may be available for the rehabilitation of historic buildings.   All rehabilitations must adhere to the Secretary of the Interior’s Standards for Rehabilitation.

 

For details, please contact the Virginia Department of Historic Resources central office in Richmond (804)367-2323.

 

Benefits of Listing in the Virginia Landmarks Register

 

State Rehabilitation Tax Credits

 

The owner of property that is eligible for or listed in the Virginia Landmarks Register may qualify for a state rehabilitation tax credit.   The credit is equal to 25 percent of the owner’s cost of rehabilitating eligible or listed residential or commercial buildings, whether or not the buildings are income-producing.

 

Owners of buildings that are contributing components of historic districts listed on the Virginia Landmarks Register also may be eligible for the tax credit.

 

All rehabilitations must adhere to the Secretary of the Interior’s Standards for Rehabilitation.

 

For details, please contact the Rehabilitation Tax Credit program manager at the Virginia Department of Historic Resources central office in Richmond (804)367-2323.

 

State Rehabilitation Grants

 

State grants may be available for the rehabilitation of historic buildings.   All Rehabilitations must adhere to the Secretary of the Interior’s Standards for Rehabilitation.

 

For details, please contact the Virginia Department of Historic Resources central office in Richmond (804)367-2323.

 

Rights of Owners to Comment or Object to Listing in the

National Register and the Virginia Landmarks Register

 

Owners of private properties nominated to the National Register have an opportunity to agree with or object to listing in accord with the National Historic Preservation Act and 36 CFR 60.   Any owner or partial owner of private property who chooses to object to listing may submit to the State Historic Preservation Officer a notarized statement certifying that the party is the sole or partial owner of the private property and objects to listing.   Owners of public property, such as government entities, do not have the right to object under the regulations governing the National Register.

 

Each owner or partial owner has one vote regardless of the portion of the property that the party owns.   If a majority of private property owners objects, the property will not be listed.   The State Historic Preservation Officer shall, however, submit the nomination to the Keeper of the National Register for a determination of eligibility of the property for listing in the National Register.   If the property is determined to be eligible for listing, the documentation will be speed up any subsequent section 106 Review wherein a federal agency is required to give the Advisory Council on Historic Preservation

 

Under state law, owners of both public and  private properties under consideration for listing in the Virginia Landmarks Register have the opportunity to agree with or object to listing in the Virginia Landmarks Register.

 

A single notarized letter may serve to certify the owner’s objection to the listing of the same property in both the Virginia Landmarks Register and the National Register of Historic Places.

 

To object to the listing of a property, a notarized objection must be submitted by the owner to the State Historic Preservation Officer, Virginia Department of Historic Resources, 2801 Kensington Avenue, Richmond, VA 23221, before the  scheduled meeting of the State Review Board.

 

To comment on the nomination of a property to the national Register or the Virginia Landmarks Register, please write to the State Historic Preservation Officer, Virginia Department of Historic Resources, 2801 Kensington Avenue, Richmond, VA 23221, before the State Review Board considers the nomination and information on the national Register and the Federal Tax Provisions are available from the above address upon request.