New York State Historic Rehabilitation Tax Credit for Homeowners
Rehabilitation work on historic residential structures may qualify for a New York State tax credit. The credit will reimburse 20% of qualified rehabilitation costs of structures, up to a credit value of $50,000.00.
Who is Eligible?
Eligible properties must be an owner-occupied residential structure and be individually listed on the State or National Register of Historic Places, or a contributing building in a historic district that is listed in the state or National Register of Historic Places. In the City of Oswego there are four Historic Districts: Franklin Square, Montcalm Park, Washington Square, and Kingsford Historic District. In addition, the house needs to be located in an eligible census tract. At least $5,000.00 must be expended on qualifying work and at least 5% of the total project must be spent on the exterior of the building. All work must be done to the Secretary of the Interior’s Standards for Historic Preservation and approved by New York State Office of Parks, Recreation and Historic Preservation (OPRHP) prior to start of construction.
· Walls, masonry, finishes (interior and exterior), floors, ceilings, windows and
doors, chimneys, stairs (interior and exterior), roofs;
· components of central air conditioning or heating systems, plumbing and
plumbing fixtures, electrical wiring and lighting fixtures;
· elevators, sprinkler systems, fire escapes and other mechanicals
To see the Secretary of the Interior’s Standards please go to:
Click the link below to see a list of Frequently Asked Questions about the NYS Homeowners Rehabilitation Tax Credit:
For more information on the NYS Homeownership Rehabilitation Tax Credit program, including whether or not your property qualifies, contact the New York State OPRHP at 518-237-8643, and ask for the state tax credit staff member.