What are the benefits of owning property in a preservation district or listed in the National Register of Historic Places?
Listing in the National Register makes it is eligible for several economic benefits. When an owner donates a facade easement, that is, grants control of the property’s facade to a nonprofit organization, the owner takes a charitable tax deduction based on the easement’s appraised value and the nonprofit organization controls any changes made to the facade. Buildings listed in the National Register are eligible for certain types of grants-in-aid, information on which is available from the Washington State Office of Archeology and Historic Preservation (OAHP) in Olympia at (360) 586-3065. The federal Tax Reform Act of 1986 permits owners and some lessees of buildings listed in the National Register to take a 20 percent income tax credit on some rehabilitation costs. Contact OAHP for details.
Related Questions
- Where can I find more information about historic preservation and how to place a property on the National Register of Historic Places?
- What are the benefits of owning property in a preservation district or listed in the National Register of Historic Places?
- What benefits do I receive for owning a Seattle landmark property or property in a preservation district?
