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10 Tax Benefits of Owning a Historic Property


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Preservation Contribution
Believe it or not, you may be able to donate just your home's facade to a historic preservation organization.
Believe it or not, you may be able to donate just your home's facade to a historic preservation organization.

Imagine you donate a portion of your land to a nonprofit conservation trust. You're likely to receive a hefty tax break due to the deduction borne of your charitable donation, and you'll also pay less property tax due to the decrease in your property value (remember: you donated a chunk of it, so what remains is worth less).

The same is true of developed property. Often, if you own a historic property, you can work out a way to donate its facade, interior, landscaping or any other feature that makes it historic. Imagine you deed the front of your historic property to a preservation organization. The value of your property's facade is a charitable donation. And this same value is technically deducted from your home value, reducing your property taxes. Again, you pay for these tax benefits in the form of renovation restrictions.

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