What types of financial incentives/tax benefits are available for historic structures?
Owners of designated historic properties can apply for the Oregon Special Assessment of Historic Property program. This program allows for a “freeze” of property taxes for a 10-year period prior to a substantial rehabilitation. Most eligible properties are listed on the National Register of Historic Places. The application for this program must be submitted BEFORE the rehabilitation work occurs on the property. Contact Planning staff at 722-5512 or check out Oregon Heritage (http://www.oregonheritage.org/OPRD/HCD/SHPO/tax_assessment.shtml) for additional information. Income producing properties that are listed on the National Register of Historic Places are eligible for a 20% Federal Tax Credit, provided the work follows the Secretary of the Interior’s Standards for Rehabilitation. Alternatively, commercial and industrial buildings that are not designated as historic and that were built before 1936 may be eligible for a 10% Rehabilitation Tax Credit. Interior and exterior work may qual
