Friday, March 9, 2012

Historic building tax credit use increasing

Missouri has a lot of history. Though Native Americans lived in the area for a long itme, European colonization started in the 1700s. Statehood was famously granted in 1820 and from there the population grew and grew. Thanks to this long history, there are a lot of historical buildings. Many of them need renovation to make them safe and usable. Missouri has had a Historic Preservation Tax Credit program available to renovators that repays a quarter of the cost to renovate a building. According to a St. Louis Today article, use of those tax credits declined incredibly during the worst of the recession. However, recently there has been an increased interest in the credits. This is a good sign, as it means that the economy is recovering and people are focusing more on preserving the past, rather than just worrying about the present.

While we are not in the business of rehabbing historic buildings, we are in the business of getting your rental property up to snuff so it can be rented quickly and easily. We can help with maintenance issues and arrange for any work that may be scaring renters away from the property. Please contact us for more information.

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