This state income tax credit is available to owners of properties listed in the Greeley Historic Register, the State Register or the National Register, and to owners of contributing properties in a designated historic district. This credit applies to projects on the interior or exterior of historic properties.
Eligible taxpayers are the property owner or a tenant with a lease of 5 years or more.
Credit Based on Project Cost
The available credit is 20% of rehabilitation costs up to a maximum of $50,000 credit per qualified property. Qualified costs for the rehabilitation project include "hard costs" such as demolition, carpentry, sheetrock, plaster, painting, doors and windows, roofing, etc. These hard costs must be over $5000. "Soft costs", such as architectural fees or insurance, do not qualify.
Qualified historic properties must be: over 50 years old, and individually designated on the Greeley Historic Register, or; a contributing property in a locally designated historic district, or; listed on the Colorado State Historic Register.
Dollar for Dollar Credit
The income tax credit directly reduces (dollar for dollar) income taxes owed to the State, with a maximum credit of $50,000. Projects must be completed within 24 months and must meet Secretary of the Interior's Standards.
Download the tax credit application and instructions and and the City's one page addendum to the application submit it to the Historic Preservation Office for a quick review of your proposed project!
Please see the History Colorado Office of Archaeology and Historic Preservation website for more information regarding the tax credit programs. Click here for the current state tax credit information packet with 2013 updated information from the legislation reauthorization.