News

Tax Credit Workshop: 9/26/2014

09/22/2014

Tax Credit Workshop for Lewes Historic Property Owners
 
This workshop is sponsored by The City of Lewes Historic Preservation Commission to assist Lewes property owners who are preserving and rehabilitating their historic buildings.  Both interior and exterior renovation projects of contributing structures may qualify for Delaware and/or federal tax credits.
 
Annually the Delaware State Legislature sets aside five million dollars to support property owners of both commercial and residential communities to improve their historic properties through either interior or exterior renovations. These awards can be made retroactively for work done since 2001.
 
Owner-occupied buildings or a part of a building (such as a condominium) may receive a tax credit equal to 30% of the rehabilitation costs; for income-producing rental properties the percentage is 20%. 
 
Projects which quality for Delaware’s low income tax credits may receive additional incentives.  Delaware’s tax credits are transferable; they may be sold or assigned to others who possess Delaware income or franchise tax liability.

Presenter:      Mrs. Joan Larrivee
                        State Tax Credit Program Coordinator
                        Division of Historical and Cultural Affairs
                        http://history.delaware.gov/preservation/taxcredit.shtml
  
When:            Friday, September 26, 2014 at 7 p.m.
Where:            Lewes City Hall, 114 E. Third Street, Lewes DE


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