Owning, rehabbing, and maintaining a historic property can be very expensive. To encourage historic property ownership and help offset some of these costs, the Town of Florence Community Development Department is hosting an informational session on possible tax incentive options for homeowners of contributing properties in our Historic District or whose home is on the National Register outside of our Historic District.
The presentation is scheduled for January 27 at Florence Town Hall, located at 775 North Main Street at 6:00 pm. There is no cost for this informational session.
The government created a Federal Tax Credit Program and State Incentive for historic properties on the National Register of Historic Places. At the informational session, experts from the Arizona State Historic Preservation Office (SHPO) and the Pinal County Assessor’s Office explain the benefits that can be achieved in the form of tax incentives or credits that can be earned by an owner rehabilitating a historic property.
Experts in attendance include Eric Vondy, SHPO Preservation Incentives Programs Coordinator; Bob Frankeberger, SHPO Architect/CLG Coordinator; and Laura Andonie, Chief Deputy Assessor at the Pinal County Assessor’s Office.
A portion of the discussion focuses on the Federal Investment Tax Credit Program, which authorizes a 20 percent investment tax credit coupled with accelerated depreciation, for income-producing properties. In addition, the State of Arizona’s property tax reduction program for non-income producing properties listed on the National Register is also discussed.
For questions about this informational session, contact William Randolph, Town of Florence Planner, at (520) 868-7572.