Tax Benefits

Maryland Rehabilitation Tax Credits

Many Hyattsville residents whose property contributes to the city's National Register Historic District are eligible for a state income tax credit equal to 20% of certified capital costs of rehabilitation. Find out if your property contributes to the district (please be patient, as this a large file and may take a few moments to open. It is included in a PDF format, and requires Adobe Acrobat Reader to view. Click here to download a free version of Adobe Acrobat Reader), or go to the Maryland Historical Trust (MHT) website and look under "Sites Inventories". The credit is administered by the Maryland Historical Trust and requires a few simple steps:

1) Obtain a Heritage Preservation Certification Application from the MHT.
For assistance in completing Part I, see How to Research Your Historic Property.

2) Owner-occupied property owners must plan to spend $5,000 over a two-year period for qualified expenditures.
Income-producing property owners must spend the greater of either the adjusted basis of the structure or $5,000.

Projects are reviewed for compliance with The Secretary of the Interior's Standards for Rehabilitation.

3) Notify the MHT tax credit program administrator of intent to file. The MHT should be involved from the start to aid you and speed you along in a positive direction. MHT reviews plans and rehabilitation to insure that work completed will receive the tax credit.

You also are eligible for this credit if:

1) Your property is individually listed in the National Register of Historic Places.
2) Your property is a Prince George's County Designated Historic Site. Owners of these properties must apply for and receive a Historic Work Area Permit (HWAP) required by the County.
3) Your property is listed in a National Register of Historic Places District or a local district.
4) Your property is located in and contributes to a certified heritage area.

For more information about the program, contact Dan Sams, Preservation Officer, at 410-514-7620 or Collin Ingraham, Preservation Officer, at 410-514-7671, or visit the Maryland Historical Trust website.

Federal Rehabilitation Tax Credits

Income-producing property owners whose property is individually listed in the National Register of Historic Places or whose property contributes to a National Register historic district are eligible for a Federal tax credit of 20% of the cost of certified rehabilitation complying with the Secretary of the Interior's Standards for Rehabilitation. This three-part process is administered by the National Park Service. Forms are available from the Maryland Historical Trust.

Prince George's County Property Tax Credit

Prince George's County Historic Preservation Commission administers a preservation tax credit for certified restoration and preservation of properties classified as Historic Sites or Historic Districts by the commission. For Historic Sites a credit for 10% of an owner's properly-documented expenses completed within a five-year period may be given. Contact the Prince George's County Historic Preservation Commission for an application and policy guidelines.

For additional infomation visit O'Connell and Associates