Ansley Park Civic Assoc (APCA) & Security Patrol

Don’t Miss State Tax Incentives That Expire in 2024

Have some big repairs to do on your historic house? You may consider starting them soon to take advantage of state preservation tax incentives that expire at the end of 2024.

These incentives can be earned by renovating, restoring, or reconstructing parts of your old house such as windows, floors, stairs, siding, chimneys, porches, and the foundation. The program only includes upcoming work, not work you have already started or completed, and it doesn’t apply to new construction.

If your house is considered Contributing on the National Register of Historic Places and has not had any major front façade changes since 2015, you may be eligible for two state tax incentive programs:

State Preferential Property Tax Assessment for Rehabilitated Historic Property – Freezes the county property tax for 8.5 years; fair market value must increase by 50 – 100%
State Income Tax Credit for Rehabilitated Historic Property –Allows a state income tax credit equaling 25% of qualifying rehabilitation expenses, capped at $100,000

Eligibility Requirements

The expenditure must exceed the lesser of $25,000 or 50% of the adjusted basis of the building

At least 5% of the work must be on the outside

Work must follow the Georgia Department of Community Affairs’ (GDCA) Standards for Rehabilitation and be completed within two years

The owner must obtain preliminary and final certification of the project from GDCA Historic Preservation Division

Let the APCA History & Preservation Committee help connect you to resources and organizations to evaluate these opportunities further! We will happily assist you in navigating the process as you attempt to determine if your project is eligible and to complete the application. Email us at history@ansleypark.org.

Please note that we do not provide tax, legal or accounting advice. This material and any other material we provide has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should always consult your own tax, legal, and accounting advisors before engaging in any project.

Georgia Department of Community Affairs’ Historic Preservation Division:
https://www.dca.ga.gov/georgia-historic-preservation-division/tax-incentives-grants/state-tax-incentives

Is your home Contributing or Non-Contributing? Check the map below, effective as of Spring 2022.

Note: The Contributing status should be checked with the city of Atlanta.

https://ansleypark.org/resources/Documents/NationalRegisterMap.pdf

Ansley Park Civic Association | PO Box 570119 | Atlanta, GA 30357 - Contact Us