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Understanding Certified Historic Structure: Definition and Importance
Definition & Meaning
A certified historic structure is a building or its structural components that qualify for tax benefits under the Internal Revenue Code. To be certified, a structure must meet one of the following criteria:
It is individually listed in the National Register of Historic Places.
It is located within a registered historic district and has been certified by the Secretary of the Interior as historically significant to that district.
It's important to note that parts of larger buildings, such as individual condominium units, do not qualify as certified historic structures. However, rowhouses with shared walls are treated as separate buildings.
Table of content
Legal Use & context
The term "certified historic structure" is primarily used in the context of historic preservation and tax incentives. It plays a significant role in:
Tax credits for rehabilitation projects on historic properties.
Determining eligibility for charitable contributions related to historic structures.
Users can manage applications for tax credits and certifications through legal forms provided by resources like US Legal Forms, which offer templates created by experienced attorneys.
Key legal elements
Real-world examples
Here are a couple of examples of abatement:
Example 1: A historic theater listed in the National Register of Historic Places is undergoing renovations. As a certified historic structure, it qualifies for tax credits to support its rehabilitation.
Example 2: A row of historic rowhouses in a designated historic district receives certification for their historical significance, allowing the owners to apply for tax benefits for restoration work. (hypothetical example)
Relevant laws & statutes
The primary legal framework governing certified historic structures is found in:
Title 36 of the Code of Federal Regulations, Part 67, which outlines historic preservation certifications.
Section 48(g) of the Internal Revenue Code, which pertains to rehabilitation tax credits.
State-by-state differences
Examples of state differences (not exhaustive):
State
Notes
California
Offers additional state tax credits for certified historic structures.
New York
Has specific guidelines for properties in historic districts that may differ from federal standards.
This is not a complete list. State laws vary, and users should consult local rules for specific guidance.
Comparison with related terms
Term
Definition
Historic Structure
A building recognized for its historical significance but not necessarily certified for tax benefits.
Registered Historic District
A designated area recognized for its historical importance, which may include multiple certified historic structures.
Common misunderstandings
What to do if this term applies to you
If you believe your property may qualify as a certified historic structure, consider the following steps:
Research the eligibility criteria for certification.
Consult with a preservation expert or legal professional to guide you through the application process.
Explore US Legal Forms for templates that can assist you in preparing necessary documentation.
For complex situations, seeking professional legal assistance is advisable.
Find the legal form that fits your case
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