In the news: Montgomery County HPC approves tax credits for 95 projects

In the news: Montgomery County HPC approves tax credits for 95 projects

SILVER SPRING, MD –The Montgomery County Historic Preservation Commission, a nine-member group supported by The Montgomery County Planning Department, part of The Maryland-National Capital Park and Planning Commission, has completed its review of 2014 applications from County property owners seeking a financial reward for faithfully restoring the exteriors of their historic structures.

On August 12, 2015, the Preservation Commission recommended approval of tax credits for 95 projects, an increase of eight over the previous year. Its recommendations will be transmitted to the County finance department for final action.

The approved projects represent more than $2.6 million of investment in historic properties, more than $400,000 over last year.  Many of these projects also received state historic preservation tax credits, further increasing the benefit to property owners who undertake significant rehabilitation projects.

Properties in Bethesda, Boyds, Brookeville, Chevy Chase, Clarksburg, Darnestown, Gaithersburg, Garrett Park, Kensington, Poolesville, Potomac, Sandy Spring, Silver Spring and Takoma Park will receive tax credits this year. Owners of those structures will receive a credit on their property taxes equal to 25 percent of eligible project costs.

Read the entire press release.

By |2017-01-04T13:53:41+00:00August 18th, 2015|Montgomery County, Tax Credits|Comments Off on In the news: Montgomery County HPC approves tax credits for 95 projects