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New York State Historic Homeownership Rehabilitation Tax Credit

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The Button House Part 1If you are planning to do some rehab work on your historic home, consider the New York State tax credit process. If you file and pay taxes in NY State, you could get a tax credit of 20% of your approved project cost toward what you owe in taxes and it can be carried forward to other tax years. If you file and do not pay taxes in NY State and your income is less than $60,000, you could get a rebate check for 20% of your qualified and approved project.

Typical work that qualifies for the credit includes repairs to: 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 components related to the operation or maintenance of the building

Expenses not eligible but are not limited to: Alarm systems, appliances (window air conditioning units, refrigerators, etc.), demolition costs (removal of a building on property site), new construction costs or enlargement costs (increase in total volume; an exception is the reconstruction of a missing historic porch), fencing, feasibility studies, financing fees, furniture, insurance costs, labor done by homeowner, landscaping. leasing expenses, maintenance, outbuilding rehabilitation (this includes garages), outdoor lighting remote from building, parking lot, paving, planning costs (consultants), planters, porches and porticos (not part of original building), retaining walls, rubbish removal, scaffolding rental, sidewalks, signage, storm sewer construction costs, tools, window treatments, work performed in rental units if the building is a multifamily residence; and work performed outside the building footprint

The project must have the following elements:

  1. House is 50 years old, you are an owner occupant
  2. Your house is in the Third Ward Historic District – Corn Hill
  3. Have qualifying rehabilitation costs that exceed $5,000.
  4. Spend at least 5% of the total on exterior work.

IMPORTANT >>> Must receive approval from SHPO staff before work starts.
Contact: Christina Vagvolgyi, 518-268-2217, [email protected]

Application Form includes three parts:
Part 1 complete before work, Part 2 after approval, Part 3 upon completion of work
https://parks.ny.gov/shpo/tax-credit-programs/documents/NYSTaxCreditApplicationForm.pdf