From:

Laura V. Trieschmann

Senior Architectural Historian

EHT Traceries, Inc. | historic preservation

Hi Jay,

I wanted to pass along some information to post or relay to others regarding the nomination and tax credits.

The best for tax credit information is the Virginia Department of Historic Resource’s site:

http://www.dhr.virginia.gov/tax_credits/tax_credit.htm

Rehabilitation Tax Credits are dollar-for-dollar reductions in income tax liability for taxpayers who rehabilitate historic buildings. Credits are available from both the federal government and the State of Virginia. The amount of the credit is based on total rehabilitation costs. The federal credit is 20% of eligible rehabilitation expenses. The state credit is 25% of eligible rehabilitation expenses. In some cases, taxpayers can qualify under both programs, allowing them to claim credits of 45% of their eligible rehabilitation expenses.

There is a wonderful FAQ page at http://www.dhr.virginia.gov/tax_credits/tax_credit_faq.htm

Jere Gibber indicated there was some confusion regarding the nomination, so I wanted to also give you the proper website to help clear up any misinformation.

http://www.dhr.virginia.gov/registers/register.htm

Registration is an honor bestowed on historic properties by the state and federal governments. It recognizes the historic value of a property and encourages present and future owners to continue to exercise good stewardship. Owners of registered properties may donate historic preservation easements  (which can reduce real estate taxes), qualify for the state and federal historic rehabilitation tax credits, receive technical assistance from department staff for maintenance and rehabilitation projects, and purchase plaques that mark the property’s significance. There is no downside to listing.

The FAQ is http://www.dhr.virginia.gov/registers/register_faq.htm

Please let me know if you have any other questions or concerns. Thanks a million, Laura

Laura V. Trieschmann

Senior Architectural Historian

EHT Traceries, Inc. | historic preservation

1121 5th Street NW Washington, DC 20001

T 202.393 1199  F 202.393.1056