National Register listing is honorific recognition of a group of buildings, sites, landscapes that have historic or architectural importance. Most importantly, buildings listed on the National Register of Historic Places are eligible for the Federal and New York State Rehabilitation Tax Credits. The Rehabilitation Tax Credits are the best incentive for investors and homeowners to rehab and improve historic buildings, and are often the gap filler in a project’s funding stream.
National Register listing also requires that any project utilizing state or federal funding be reviewed by the State Historic Preservation Office to ensure no harm will be done to the historic district’s buildings or an individual landmark. This may be a state or municipal project or a private project. For example, a DOT project would require review, as would a project accepting tax credits.
Buildings listed on the National Register of Historic Places DO NOT need state or federal approval for any work on the property, including demolition, UNLESS state or federal funds are used for that project.
Want to Know the Difference Between a National & Local Register? Click here
Listing DOES NOT put any restrictions on what can or cannot be done to a property.
It DOES NOT increase your taxes. It DOES NOT affect your insurance.
More information about the National Register of Historic Places can be found here.
More information about the New York State Rehabilitation Tax Credit (20% of rehabilitation costs) can be found here.
More information about the Federal Rehabilitation Tax Credit (20% of the rehabilitation costs) can be found here.