Press Release
May 16, 2022
Dan Keefe
(518) 486-1868 | news@parks.ny.gov
New York State Office of Parks, Recreation, and Historic Preservation Announces Availability of Historic Barn Rehabilitation Tax Credit Program
Repair of Historic Barns Can Qualify for 25% New York
State Tax Credit
New York State Office of
Parks, Recreation, and Historic Preservation announced the launch of the
revitalized Historic Barn Rehabilitation Tax Credit program. The new program
allows state taxpayers who rehabilitate their historic barns to earn a credit
against state income tax owed.
"New York's rural landscapes
are characterized by historic barns, forming the identities of many
communities," said Erik
Kulleseid, Commissioner of the Office of Parks, Recreation and Historic
Preservation. "Retaining these historic structures, are among
the state's most threatened historic resources, contributes to heritage
tourism and expands opportunities for the state's agricultural economy. State
Parks is pleased to add this program to its existing historic tax credit
programs."
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.
"New York's
historic barns are emblematic of our agricultural heritage and a testament to
upstate's economic leadership as the original breadbasket of America," said Senator Michelle Hinchey. "Thanks
to our bill to revive the Historic Barn Rehabilitation Tax Credit program, we
are making it more affordable for New Yorkers to give these beloved buildings
a new shot at life. Historic preservation is an important driver of rural revitalization,
and I am so proud to have sponsored the legislation that will help save
thousands of historic barns from disrepair, boosting local economies and
local pride in the process."
"I
was proud to sponsor legislation to resurrect the New York State Historic
Barn Rehabilitation Tax Credit, and I am delighted that the statewide
application process is now open,"
said Assemblymember Didi Barrett. "In the Hudson Valley –
once the breadbasket of our young nation – historic barns are an iconic
testament to our region's deep agricultural roots. This tax credit will
incentivize the next generation of farmers and small business owners to grow
their businesses here in New York State, while preserving some of our most
picturesque and historic structures!"
"The Preservation League of
NYS is grateful to Governor Hochul for signing the Historic Barn
Rehabilitation Tax Credit into law, and to Senator Hinchey and Assemblymember
Barrett for their leadership on this important preservation issue," said Preservation League President Jay
DiLorenzo. "This credit is a much-needed resource for barn
owners across the state, who thanks to this program, will be able to make
vital repairs and bring countless barns back to life – either reinvigorating
their agricultural function or adaptively reusing them for innovative new
purposes."
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).
On Wednesday
May 18, 2022 at 6:00 PM, a Historic Barn Tax Credit Information Session will
be held at Glimmerglass
State Park, Lakeview
Pavilion, 1527 County Road 31, Cooperstown, NY 13326. Olivia Brazee from the
State Historic Preservation Office and Ellen Pope, executive director of
Otsego 2000, will walk participants through the requirements for receiving
the credit. The
event is free but registration is recommended at: https://forms.donorsnap.com/form?id=315d40c2-8bcc-4086-87c6-df061aeed264