Neighborhood Association

Historic Tax Credit

Tax Credits for Historic Preservation

Owners of houses and condominiums in Tuscany-Canterbury can take advantage of tax credits for home improvement projects that preserve the historical character of their properties.

What are Historic Tax Credits?

Tuscany-Canterbury is a National Historic District in 2002. Under current law, a homeowner in a historic district is eligible for a tax credit for qualified restoration work performed on the home. Historic designation makes the neighborhood more desirable and adds to the value of the properties in it.

Historic tax credits are financial incentives for residential or commercial rehabilitation projects that require property-owners to follow certain preservation standards.

When Can You Apply?

Homeowners often use state historic tax credits for significant maintenance or rehabilitation projects. Larger projects are also eligible for the city tax credit. Typical work includes interior or exterior painting, repairing deteriorating porches, or repointing brickwork.

In all cases, you must apply and receive approval before starting work on your project. Projects that have already been started or completed before receiving approval are not eligible for historic tax credits.

Eligibility Requirements

Eligibility requirements for properties and projects vary between the city, state and federal historic tax credit programs. Your property must be an individual landmark or a “contributing resource” within a historic district.  Historic districts are designated by CHAP or the National Register of Historic Places. In 2020 Condominium buildings also became eligible for a tax credit.  (TUSCANY-CANTERBURY IS ON THE NATIONAL REGISTER OF HISTORIC DISTRICTS).

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