Monday, March 31, 2014

Preservation Commission Hosts Program on Historical Tax Credits

The Louisville Historical Preservation Commission met on Friday at Louisville City Hall and presented a program by Todd Sanders, the Financial Co-ordinator with the Mississippi Department of Archives and History (MDAH). Sanders presented information concerning tax credits available at the state and federal level for the rehab of historical properties.

Frances Edwards, Edna Joy Prisock,  Annette Crabtree,Victoria Goss, Marveen Moody

There are numerous guidelines involved for these credits but properties that can meet the requirements can receive up to a 45% tax credit on rehabilitation costs. Meeting these requirements is part of a three step process. Income producing properties are eligible for a 25% tax credit at the federal level and a 20% credit from state taxes while residential properties can receive the 20% state credit.

More information for those interested can be found at the MDAH website - www.mdah.state.ms.us. You can also call MDAH at 601-576-6950 or email at tsanders@mdah.state.ms.us

The Louisville Historical Preservation Commission include Marveen Moody - Chairman, Frances Edwards-Vice Chair, Victoria Goss- Secretary, Edna Joy Prisock and new member Annette Crabtree.