Owners of historic barns (built before 1946) may be eligible for New York State’s new Historic Barn Tax Credit program for qualifying expenses to rehabilitate or maintain their barns.
The 25% credit, available to barn owners who pay New York State income tax, can be applied to qualifying barn rehabilitation and/or maintenance expenses incurred in the previous five years.
Owners must spend at least $5,000 to claim the credit, and the historic exterior appearance of the barn may not be altered. The credits do not apply to barns that have been converted or will be converted to residential use, though other commercial uses are permitted.
Otsego 2000 will offer an informational session on the new NYS Historic Barn Tax Credit Program on Wednesday, May 18th. The free event, which will be held in the Lakeview Pavilion at Glimmerglass State Park, will feature Olivia Brazee from the State Historic Preservation Office and Ellen Pope, executive director of Otsego 2000.
Otsego 2000 also offers free technical assistance to homeowners applying for the Historic Preservation Tax Credit. In New York State, Otsego County has the fifth highest number of homeowners participating in the Historic Preservation Tax Credit.
This program will begin at 6 pm. For more information or to register, click here or call Otsego 2000 at (607) 547-8881.
Photo of an Otsego County barn getting repaired provided.