MONTEZUMA — americustimesrecorder.com

 

MONTEZUMA — Do you see beautiful historic properties crumbling in decay and wonder what can be done to save those treasures?

William R. Hover gave the Macon County Historical Society a free workshop on how to use historic preservation tax credits and incentives to rehabilitate significant architectural buildings at the quarterly meeting on June 21.

Hover is program manager and architectural reviewer with the Historic Preservation Division, Georgia Department of Natural Resources. He told an audience of about 60 people how the tax credits can be applied to help offset the expenses of rehabilitating historic residences and commercial properties. All contributing properties in National Historic Register districts or properties eligible for Historic Register designations may qualify for these preservation incentives.  Montezuma, Marshallville and Americus have qualifying districts.

The meeting was held in the home of Sarah and Barbara Summy, which was recently accepted on Georgia’s Historic Register. The Summys’ 1900s Queen Anne is located in Montezuma’s Historic District. They have been diligently bringing the home back to its former glory. The Summys submitted significant documentation on the decay and deterioration of their property, which is the key to qualifying for tax credits. They were also able to provide substantial historic documentation and photographs of the home’s original state, thanks to contributions from previous generations of owners.

Two federal tax incentive programs currently apply to preservation activities: the Rehabilitation Investment Tax Credit (RITC) program, and the charitable contribution deduction. Historic residential and commercial properties are eligible to participate in both programs. The 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.

There are also two state tax incentive programs.

The Georgia Preferential Property Tax Assessment Program for Rehabilitated Historic Property allows eligible participants to apply for an eight-year property tax assessment freeze. 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 personal, residential properties, and $300,000 for income-producing properties.

The applications are a two- or three-part process, describing before and after rehabilitation. Ideally, project work should be submitted before work begins and be completed within two years. Hover recommends working with a tax expert in preparing returns utilizing the credits.

Property rehabilitation plans should follow the guidelines of the National Park Services’ Historic Preservation Briefs which give extensive details on the proper techniques for working with antique architectural features. These 47 fact sheets address the dangers a property owner may encounter with techniques proposed by contractors with limited experience in preservation rehabilitation. Hazards that would affect the ability to claim tax credits — and jeopardize the structural integrity of a building — include sandblasting, replacing windows and doors that could be rehabilitated, or dry walling over plaster that has repair potential. Check out the Preservation Brief related to a property’s particular features before hiring a contractor.  http://www.nps.gov/history/hps/tps/briefs/presbhom.htm

The Macon County Historical Society meets quarterly and provides informative programs on topics of historical significance. The public is always welcome. Follow the Society by joining the Macon County Historical Society’s Facebook page. The Montezuma Recollections Facebook page also includes a wealth of historic photographs and stories passed down through the generations.

— Submitted