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For more information on the Bellevue Kentucky program contact Historic Preservation Commission, City of Bellevue, 616 Poplar St., Bellevue, KY 41073; 859-431-8866; http://bellevueky.org/
To qualify for these grant and loan programs, you often first need to have your house qualify for the National Register of Historic Places. This isn't as difficult as it might seem. Your house doesn't have to have national significance, such as at one time being George Washington's weekend retreat. It can have local historic or architectural significance to qualify for the National Register. It could be an early example of 18th century Greek Revival style—or have been owned at one time by a locally significant family. You'd be surprised how many older houses have some sort of local significance, and that might be just enough to qualify for these programs. Contact your State Office of Historic Preservation listed below for more information about how to get your property qualified for historic status.
What this means is that if you renovate your house and use part of it to run your own business, like a gift shop, you may be able to receive a federal tax deduction of 20% of the renovation costs. If you spent $50,000 on renovations, that comes out to a $10,000 tax deduction on next year's taxes. Not bad. Not only would you get the benefit of writing off 20% of your renovation expenses, but you'll also be able to write off part of your mortgage as a business expense.
State Historic Preservation Officer
Alabama Historical Commission
468 South Perry
Montgomery, AL 36104
There are no state grant funds available to individual homeowners. However, owners of commercial property listed in the National Register of Historic Places are eligible for a 50% reduction in property taxes. Nonprofits, local government, and universities are eligible to apply for the Alabama Cultural Resources Preservation Trust Fund, a 50/50 matching grant program. Eligible funding categories include survey and registration, education and public awareness, planning for historic rehabilitation, and planning archaeological project and eligible projects are those that encourage good community preservation. The agency also administers the Federal Rehabilitation Tax Credit Program. Individuals who have rehabilitated an income producing building used for commercial or industrial purposes can receive a 20% tax credit on eligible expenses incurred during renovation. To be eligible for funding, buildings must be listed on the National Register of Historic Places or be eligible for membership.
Arkansas Cathie Matthews
State Historic Preservation Officer
Suite 1500 Tower Buildings
323 Center Street
Little Rock, AR 72201
Owners of historic homes can apply for a 1:2 matching grant from the Historic Preservation Restoration Program (up to $10,000). The property must be listed on the Arkansas Register of Historic Places and if the grant will make it eligible for the National Register of Historic Places, the owner must follow through with the listing. The Federal Rehabilitation Tax Credit Program offers a 20% tax credit to individuals who have spent money rehabilitating an income producing building to be used for commercial, industrial, or residential rental purposes. Federal tax deductions can be gained through the donation of a conservation easement of a historic structure. Buildings must be listed on the National Register of Historic Places to qualify for either of these benefits. The Arkansas city governments that participate in the Certified Local Government (CLG) program are eligible for federal pass-through grants. These funds can be used for local historic preservation projects which include the rehabilitation of local historic structures. Individuals that are currently renovating or considering a renovation can receive technical assistance. The agency will provide on-site visits, consultations, and explanations. While cemeteries are not generally included in the National Register of Historic Places, they can be eligible under some circumstances. The Cemetery Preservation Program will consider assistance to those cemeteries where there are a significant amount of older markers and where the graves contain people of historic importance, or if there is a distinctive design feature.