Tax Credits Available for Snowstorm-Affected Historic Homes
February 22, 2010
SILVER SPRING, MD – Owners of historic buildings in Montgomery County are eligible for local tax credits for repairs needed for snowstorm-related damage, historic preservation planners said Monday.
Owners of buildings listed in the county Master Plan for Historic Preservation may apply for the Montgomery County Historic Preservation Tax Credit for repairs to roofs, gutters and the like as long as the work does not alter the look of a building’s exterior features.
To qualify, the cost of the repair work must exceed $1,000. The tax credit, applied toward county property taxes, will equal 10 percent of expenses.
The County Council created the historic preservation tax credit program in 1984. The Historic Preservation Commission reviews tax credit applications, certifies that project work is eligible for tax credits and forwards recommendations to the county Department of Finance for approval. Any unused portion of the tax credit may be carried forward for as many as five years.
For a list of eligible activities, criteria and to download an application form, visit www.montgomeryplanning.org/historic/instructions/taxcredit.shtm or call 301-563-3400.
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