11/10/2024
It was Benjamin Franklin who stated, "Nothing can be said to be certain, except death and taxes." But he didn't realize that if you own property from his era, you can avoid the second. Historic property can be a nightmare -- remember Tom Hanks and Shelley Long in "The Money Pit"? -- but these buildings have civic value. If you're willing to sink money into a historic property, the government is generally willing to help you out on the other side.
Myriad tax incentives exist at the local, state and federal levels to encourage responsible citizens to pony up the costs of upkeep on historic property. What are some tax benefits you could receive by owning one of these properties?
