Approved repairs, painting, restoration and rehabilitation represent more than $2.6 million of investment in historic structures across Montgomery County
SILVER SPRING, MD –The Montgomery County Historic Preservation Commission, a nine-member group supported by The Montgomery County Planning Department, part of The Maryland-National Capital Park and Planning Commission, has completed its review of 2014 applications from County property owners seeking a financial reward for faithfully restoring the exteriors of their historic structures.
On August 12, 2015, the Preservation Commission recommended approval of tax credits for 95 projects, an increase of eight over the previous year. Its recommendations will be transmitted to the County finance department for final action.
The approved projects represent more than $2.6 million of investment in historic properties, more than $400,000 over last year. Many of these projects also received state historic preservation tax credits, further increasing the benefit to property owners who undertake significant rehabilitation projects.
Properties in Bethesda, Boyds, Brookeville, Chevy Chase, Clarksburg, Darnestown, Gaithersburg, Garrett Park, Kensington, Poolesville, Potomac, Sandy Spring, Silver Spring and Takoma Park will receive tax credits this year. Owners of those structures will receive a credit on their property taxes equal to 25 percent of eligible project costs.
Eligibility for the Preservation Tax Credit:
To be eligible for the Montgomery County Historic Preservation Tax Credit, the property must be listed in the Montgomery County Master Plan for Historic Preservation or be located within the boundaries of a County-designated historic district.
To receive this year’s tax credits, property owners filed application and documentation of the repairs with the historic preservation staff of the Planning Department in April 2015. Repairs, restoration or preservation of exterior features of designated structures were considered. Examples of eligible projects include, but are not limited to:
-Painting.
-Repairing roofs or replacing them in-kind.
-Repairing windows, architectural trim or ornament.
-Uncovering and repairing original siding.
-Repointing brick or stone foundations or chimneys.
-Restoring a documented feature, such as a dormer or porch that was previously altered or removed.
-Repairing and maintaining outbuildings such as barns and garages.
New additions, construction and interior work are ineligible.
History of County Tax Credit:
To encourage the restoration and preservation of historic properties, the Montgomery County Council passed legislation (Chapter 52, Article VI) in 1984, creating a historic preservation tax credit program for County-designated historic properties. Owners of properties listed in the Montgomery County Master Plan for Historic Preservation are eligible to receive a credit for documented expenses for exterior maintenance, restoration or preservation work.
On July 16, 2013, the Montgomery County Council passed Bill 14-13, which amended the tax law (Chapter 52, Article VI) related to the percentage of improvement costs on a historic property from 10 percent to 25 percent for eligible work completed after January 1, 2013.
The Montgomery County Historic Preservation Commission (HPC) reviews the tax credit applications, certifies that project work is eligible for tax credits and forwards recommendations to the County Department of Finance for approval. The approved tax credit is applied to a property tax bill.
Any unused portion of this tax credit may be carried forward for as many as five years. A property not listed on the Master Plan for Historic Preservation at the time the work is undertaken will not be considered for the preservation tax credit.
Studies across the country indicate that historic preservation tax credits have a strong multiplier effect, returning to the economy significantly more dollars than are issued as credits. These studies have also found that historic preservation projects are a strong employment generator, suggesting that historic preservation activities are good for local economies. More information about tax credits is available here. The deadline to apply for county historic preservation tax credits for projects completed in 2015 is April 1, 2016.
For more information about filing a tax credit application, please contact Matt Bowling, Senior Preservation Planner at the Montgomery County Department of Planning (telephone: 301-563-3408; email: matt.bowling@montgomeryplanning.org).
About the Historic Preservation Commission:
The Montgomery County Historic Preservation Commission (HPC) is responsible for researching and evaluating historic resources and historic districts according to specified criteria, and reviewing proposed exterior changes to sites and districts that have achieved historic status. HPC’s nine members are appointed by the County Executive and confirmed by the County Council. Supporting the HPC are architectural historians and architects in M-NCPPC’s Historic Preservation Section. The HPC convenes twice a month and its meetings are always open to the public.
Learn more about the Montgomery County Planning Department’s Historic Preservation Office.