Historic properties in Frederick could get 25% tax credit

Real Estate Watch

November 29, 1998

More than 4,000 properties in Frederick's historic district could benefit from a 25 percent tax credit beginning Jan. 1.

The Heritage Preservation Tax Credit for the Rehabilitation of Historic Property, administered by the Maryland Historical Trust, provides a break for "qualified" capital costs spent in the rehabilitation of certified heritage structures.

Certified heritage structures are those listed in the National Register of Historic Places, designated as a historic under local law or located in the historic district listed in the National Register.

The credit is available for owner-occupied residential property as well as income-producing property.

The rehabilitation expenditure in a 24-month period must be at least $5,000.

The Home Builders Association of Maryland will hold its Maryland Real Estate Forecast Conference from 8 a.m. to 4 p.m. Dec. 4 at Turf Valley County Club.

The cost is $95 and those attending will receive six continuing-education credits. For more information, call 410-265-7400, Ext. 104.

Pub Date: 11/29/98

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