State Tax Incentives

Historic Home


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.
 

  • 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. 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. A 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.

  

Additional Resources: 

  • The National Trust Community Investment Corporation –  Provides information on various project financing options. There are also many for-profit limited liability companies (LLCs) that provide consulting services for developers, allowing them to monetize federal and state tax credits, thus creating project equity.

Case Studies



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Who to contact:

Rachel Rice, Tax Incentives Program Coordinator
rachel.rice@dnr.ga.gov, 770-389-7849