Historic Barn Rehabilitation Credit
A state income tax credit is available in the amount of 25% of expenses for the rehabilitation of historic barns. The credit applies to projects started after January 1, 1997, and to projects that do not materially alter the barn’s historic appearance.
To qualify for the tax credit, a barn must have been built before 1936 and used originally for storing farm equipment or agricultural products, or for housing livestock. The credit may not be used for barns currently in residential use or for projects which result in the conversion of barns to residential units.
If the barn is listed in the National Register of Historic Places, work must be approved by the New York State Office of Parks, Recreation and Historic Preservation. If the barn is not listed, taxpayers simply certify on their tax return that their work has not materially altered the barn’s historic appearance.
According to the Department of Taxation and Finance, work that materially alters historic appearance includes:
- replacement of existing wood siding or decorative details with synthetic materials
- replacing existing wood windows or doors with non-wood units
- adding new or enlarging existing window or door openings
- demolition of additions built before 1936
- adding decorative elements that never existed on the barn
- additions to historic barns that remove more than 25% of existing walls or which enclose more than 50% of existing external walls
- alterations that remove more than 25% of the existing internal structural framework.
Additional information can be obtained by calling the Business Tax Information Office of the Department of Taxation and Finance at (800) 972-1233, or by visiting the website of the New York State Office of Parks, Recreation and Historic Preservation.