Historic Preservation Incentives
The first benefit of preserving your historic home or property is the honorary distinction. If your property is in a historic district (national or local register) you may be eligible for a property tax exemption for a major rehabilitation. If it is an income producing property you may be eligible for a federal tax credit. In either of these cases, you should consult with a professional to help you analyze your potential tax benefits.
There are also incentives for rehabilitating a historic structure because there are options for flexibility with the building code. Please consult with the Planning and Building Department for more information.
Grant funds from the Florida Division of Historical Resources are available for historic preservation projects for non-profit and government entities.
Research has proven that properties in a historic district have more stable and increasing property value thereby offering an incentive to maintain the character of the building and promote historic property designation. The value of construction projects on historic buildings is oftentimes higher because of the level of skilled labor and use of local labor and materials which provides a greater local economic impact and encourages the use of sustainable resources.