State Tax Incentives

State tax incentives are available for owners of a historic property who carry out a substantial rehabilitation. All properties must be listed in, or eligible for, the National/Georgia Register of Historic Places, either individually or as part of a National/Georgia Register Historic District. Project work must meet the Secretary of the Interior’s Standards for Rehabilitation and the Georgia Department of Natural Resources Standards for Rehabilitation (pdf).

• State Preferential Property Tax Assessment for Rehabilitated Historic Property – Freezes the county property tax assessment for more than 8 years. Available for personal residences as well as income-producing properties. The owner must increase the fair market value of the building by 50 – 100%, depending on its new use.
• State Income Tax Credit for Rehabilitated Historic Property – The Georgia State Income Tax Credit Program for Rehabilitated Historic Property allows eligible participants to apply for a state income tax credit equaling 25 percent of qualifying rehabilitation expenses capped at $100,000 for a personal residence, and $300,000, $5 million or $10 million for all other properties.

Note: Historic residential and commercial properties are eligible to participate in both programs. Property must be a "certified structure," which means it must be listed in the National/Georgia Register(s) of Historic Places. The Historic Preservation Division must certify the rehabilitation.

WARNING: Projects that are initially submitted substantially complete or that do not comply with DNR’s conditions included in our project review letter may preclude use of tax credits.

Case Studies

• Waynesborough Academy Senior Residences - February 2012