Governor Signs Enhanced Tax Credits Bill for Historic Properties

Just before the Memorial Day Weekend, Governor Polis signed a bill that substantially improves the state rehabilitation tax credit for homeowners of historically designated houses. Originally passed in
1990, the newly amended law provides at 20% tax credit up to $100,000 for capital costs to maintain your home including projects like replacing your roof, upgrading your mechanical, electrical or plumbing systems, repairing foundations, repointing masonry, or restoring historic plaster walls, woodwork and floors. Just like with the original credit, to be eligible to receive it, the Denver Landmark Staff must first approve your project. The existing tax credit with a $50,000 cap remains in place through the rest of the year. The new credit with a $100,000 project cap takes effect for projects that begin after January 1, 2025. The tax credit becomes refundable for projects that begin after January 1, 2027.

This is great news for the owners of the historic houses already designated or included in the new UPark Historic District. But it could also be of interest to owners of historic houses not yet designated. For more information about the historic rehab tax credits for private homes, call, text or email Barb Pahl., 303-909-3726.

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