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The Rehabilitated Historic Property Tax Assessment Freeze” offers financial incentives to historic property owners for the rehabilitation of historic buildings listed in, or eligible for, the Georgia Register of Historic Places and/or the National Register of Historic Places. The tax freeze gives a property owner an eight-year freeze on local property taxes at the assessed, fair-market value before rehabilitation. The program is available to properties used for residential, mixed-use, and commercial and professional purposes.
To be eligible for the tax freeze, several requirements must be met:
- The property must be listed in, or eligible for, the Georgia Register of Historic Places or the National Register of Historic Places.
- The rehabilitation work must meet preservation standards and be completed within two years.
- The property must meet a “substantial rehabilitation test” or fair-market value thresholds as determined by the local tax assessor
The program requires early coordination with the local tax assessor’s offices as well as project review at the state level. Early technical assistance is strongly encouraged, especially before work begins. Contact the NEGRDC’s Preservation Planner bwalker@negrdc.org for further information or the state tax-incentive coordinator (http://www.gashpo.org).
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