January 25, 2023
Municipal Office Annex, Conference Room C
140 West Patrick Street
Frederick, MD 21701
City to Co-Host Tax Credit Workshop for Historic Properties
Wednesday, January 25, 2023
The Maryland Historical Trust, The City of Frederick Planning Department, and the Frederick County Division of Planning and Permitting invite the public to a historic preservation tax credit workshop on Wednesday, January 25, 2023 at 7:00 PM to learn about programs that may be available for the rehabilitation of historic properties.
By providing 20% tax credits for qualified rehabilitation projects, the Maryland Historic Revitalization Tax Credit Program encourages the preservation and rehabilitation of historic properties throughout Maryland. These tax credits are available to both owner-occupied residences and commercial properties, but all projects must be reviewed and approved by the Maryland Historical Trust (MHT) prior to undertaking any work to be eligible. It should be noted that while the state tax credit may be used in conjunction with local historic tax credits, MHT review is independent of local review and may not be waived or substituted for local approval.
Frederick County’s Historic Tax Credit is used to offset property tax due to increases in assessed value that would result from the restoration work done at a qualifying historic property, as determined by the State Department of Assessments and Taxation. 100% credit is given of the increase in the assessment of the real property in the first two taxable years and is phased over the remaining three years for a total of five years.
The City of Frederick’s Historic Preservation Property Tax Credit is available for properties Historic Preservation Overlay Zone—either individually or as a district. This program allows for a 25% credit on eligible exterior expenditures. Applications for this program are due April 1, 2023.
Individuals requiring special accommodations are requested to call five days prior to the meeting to make arrangements.