Researching Tax Rebates and Incentives in Historical Preservation
Federal and state tax credits, deductions, and property easements are designed to encourage property owners to embark on the challenging task of renovating a historic property, allowing it to function well in the modern world while keeping the character and design of the historic original. While there are differences between regions and states, basic rules apply for any historic renovation project that is hoping to qualify for tax credits or easements.
The property, whether an investment or owner-occupied, needs to be registered or listed as historic, or be located within a historic district. These are national designations as well as state, but state historic preservation offices manage the listings. Your state historic preservation office web site is the first stop for research.
Most of the tax credits and deductions are for renovation expenses, and there are usually upper and lower limits for renovation expenses. In many areas, materials and design need to conform to historic or neighborhood standards. For investment properties, there is also the need for planned access and adaptive use so the building can be accessed by multi-abled people.
A general rule of thumb is that investment properties can qualify for federal tax credits on renovation costs, while owner-occupied buildings can qualify for state credits and deductions. There is significant overlap, though. Both state and regional historic preservation offices may have a resource person who is responsible for changes in the laws and regulations, as well as grants and other funding opportunities.
Easements mean that the property owner signs away some property rights, in order to keep the property in a certain state. Many environmental easements are bringing agricultural or developed land back into wildlife corridors, for example. Property easements in historic districts or with historic properties means that the homeowner agrees in perpetuity to keep the nature and style of a property meeting historical standards. In some communities, these types of property easements can increase tax deductions and decrease both estate and property taxes.
Architects who work in historic preservation and adaptive reuse are going to be most familiar with the wide range of tax incentives, property easements, or other credit programs from the federal and state governments, and grant programs from community organizations.
Can we help you with an adaptive reuse or historic preservation project? Please contact us for more information.
Building Owner Representation Services in Construction
Construction can be complicated.
Each phase of construction requires specialized knowledge to ensure it runs smoothly, but hiring an expert for every phase of the construction process can become expensive and overwhelming. That's why an increasing number of property owners are turning to building owner representation services for their construction projects.
An owner representative manages all aspects of design and construction on behalf of the property owner or developer. From hiring qualified contractors to managing the construction process, an owner representative will act as an advocate for the property owner throughout every phase of construction. Building owner representation helps property owners to eliminate risks and surprises, while ensuring that construction is completed on time and within their budget.
Scott Henson Architect offers a full range of construction services, including building owner representation. Our construction services include:
- Full and phased cost estimates
- Qualified contractor selection assistance
- Competitive bidding
- Construction management
- Owner representation
- Site safety plan preparation
- Demolition plan preparation
We have over fifteen years of experience with general contractors, craftsman, artisans, and preservation specialists. When you hire Scott Henson Architect for owner representation, you gain a full-service team of problem-solvers and professionals who will manage your construction project from conceptualization to completion so that you can focus on running your business.
We use our experience with comparable projects and our knowledge of current market prices to provide you with accurate construction cost estimates, bid recommendations, and contract negotiations.
You'll never have to wonder what's going on with your construction project, because our firm always maintains an open line of communication. We provide you with detailed progress reports and project documentation throughout every step of the process.
We approach every project with the same level of care, dedication and enthusiasm. Whether your construction project is commercial or residential, Scott Henson Architecture can help you.
Contact us today for more information about our construction and owner representation services.Read more...