Free Workshop on Historic Rehabilitation Tax Credits

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Homes like this one in Binghamton's Abel Bennett Tract Historic District are eligible for the New York State Historic Homeowner Tax Credit program.

ALBANY, NY (08/28/2013)(readMedia)-- Homeowners in the Binghamton area are invited to attend a meeting to find out how they can save money while making repairs to their older homes.

The Preservation League of New York State and the New York State Office of Parks, Recreation and Historic Preservation will present a workshop in Binghamton to help homeowners take advantage of a tax credit for repairs to older buildings.

The workshop will be held on Thursday, September 19 at the Horace Mann School Cafeteria, 30 College Avenue, Binghamton. During the workshop, which runs from 5:30 p.m. – 7:00 p.m., experts will review the basic guidelines of the program and answer questions about the application process for homeowners. Refreshments will be served.

There is no cost for the workshop, but reservations are required as seating is limited. Please RSVP by Monday, September 16 by calling 607-237-0887 or by email at past@stny.rr.com. The Preservation Association of the Southern Tier is sponsoring the workshop, which is expected to draw participants from around the region. Additional support for the workshop is provided by the City of Binghamton, and the city's Commission on Architecture and Urban Design.

The New York State Historic Homeowner Tax Credit Program will cover 20% of qualified rehabilitation costs of owner-occupied historic houses, up to a credit value of $50,000.

"This is the perfect time to finally fix that leaking roof, or repair drafty windows," said Jay DiLorenzo, president of the Preservation League of New York State. "This tax credit can help homeowners provide safer and healthier homes for their families, and protect their investments for generations to come."

"More and more homeowners are discovering how the Historic Homeowner Tax Credit is a cost-effective way to improve their properties," said Rose Harvey, Commissioner of the Office of Parks, Recreation and Historic Preservation. "What's more, the tax credit is an effective economic development tool – providing an incentive to invest in older homes, stabilizing neighborhoods and creating local jobs for skilled trades-people."

According to David Hawley, President of the Preservation Association of the Southern Tier, "PAST is aware that there are a number of houses for sale in Binghamton's Bennett Tract. Tax credits are an incentive for potential buyers as well as current homeowners who intend to stay in their homes. Just when you're not sure what to do, the Homeowner Tax Credit program could be the answer. The historic districts in Binghamton, Johnson City, Owego, Windsor and a bit further away, Greene and Delhi, have solid older residences in concentrated areas. A rehabilitation project completed with tax credit help can be a smart investment and a means of encouraging neighborhood revitalization."

This program requires that the building be individually listed in the State or National Register of Historic Places, or in a listed historic district. Additionally, the building must be located in a qualifying census tract, and at least $5,000 must be spent on the project.

To find out if a home is eligible, please visit http://nysparks.com/shpo/tax-credit-programs/ or contact Sloane Bullough at the New York State Office of Parks, Recreation and Historic Preservation at 518-237-8643, ext. 3252. Eligibility information will also be available at the workshop.