New York State Office of Parks, Recreation, and Historic Preservation announces the availability of the Historic Barn Rehabilitation Tax Credit Program where eligible barns can qualify for a 25% state tax credit against state income tax owed.
The amount of the tax credit is equal to 25% of the expenditures incurred to rehabilitate a historic barn.
To qualify, a barn must have been built prior to 1946, and the work must be approved by the Division for Historic Preservation. Taxpayers can begin to claim the credit on their 2022 New York state taxes.
Governor Kathy Hochul signed legislation reinstating and improving the barn tax credit program, which had been limited in availability due to 2018 federal tax code changes. The legislation was sponsored by State Senator Michelle Hinchey of the 46th District, and Assemblymember Didi Barrett of the 106th District.
Program information and staff contact information can be found on the Division for Historic Preservation’s website www.parks.ny.gov/shpo/tax-credit-programs/. Applications can be mailed to 1 Delaware Avenue North, Cohoes, 12047 (for express mail services) or to P.O. Box 189, Waterford, NY 12188 (for USPS mail service).
