Tax Incentives
If you own a landmark home or a home in a historic district you may qualify for an 8 to 12 year property tax assessment freeze for rehabilitating the home while retaining its historic character.What is a Property Tax Assesement Freeze?The Property Tax Assessment Freeze Program provides tax incentives to owner-occupants of certified historic residences who rehabilitate their homes. Through the Property Tax Assessment Freeze Program, the assessed valuation of the historic property is frozen for eight years at its level the year the rehabilitation began. The valuation is then brought back to market level over a period of four years.What do I have to do to qualify for the freeze?To qualify for the Property Tax Assessment Freeze Program a property must:
What is the certification procedure for the tax freeze? |
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How much could I save utilizing the freeze? |