One of the first questions many people have when they consider purchasing an historic property, particularly one that needs improvement, is "What kind of help is out there for this project." Fortunately, there are some great financial incentives at the Federal, State, and Local level that can help make the financial implications of restoring an historic property more managable.
The type and amount of financial assistance depends on a number of things:
1. Is the property considered a "certified historic structure." In the City of Beaufort, any property either individually listed on the National Register of Historic Places or listed as "Contributing" in the 1997 Beaufort County Above Ground Resources Survey is a "certified historic structure."
2. Is the property going to be owner-occupied, or income producing (eg. commercial or rental)?
3. Has this property been vacant and abandoned and for how long?
Much research and compilation has been done both by the National Park Service and by the South Carolina State Historic Preservation Office to help property owners figure out exactly which tax credits they qualify for. Below are a list of links to different resources those two organizations have put together. The City of Beaufort also has our own local incentives for certain types of restoration adn redevelopment so those are listed as well. If you have any questions, please contact Lauren Kelly in the Planning Department: 843-525-7014, or email@example.com
Federal, State & Local Incentives
Federal - offers incentives for income producing properties
- National Park Service Technical Preservation Services webpage
- NPS Tax Incentives brochure
State - offers incentives for both owner occupied and income producing properties
Local - offers incentives for a variety of specific building types and scenarios