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For residences located in a DDD and classified as historically significant by Louisiana Division of Historical Preservation, the state offers a tax credit up to $25,000 per structure based on eligible costs or rehabilitation.
Eligible property includes:
- Owner occupied residential or owner occupied mixed use structure
- Listed on the National Register of Historic Places
- Classified as historically significant by the state Department of Culture, Recreation and Tourism
- Located in a DDD
- Vacant (atleast 6 months) and blighted buildings atleast 50 years old
- Rehabilitation costs must exceed $20,000
- Credits are calculated using a formula based on a percentage of adjusted gross income of the owner-occupant
- A flat 25% credit is offered; additionally, If, however, a building is determined to be vacant and blighted, the credit award is increased to 50%. One of the areas of eligibility for this program, in addition to being located in a DDD, is being a vacant and blighted building at least 50 years old (vacant for at least 6 months).
The State residential Historic Rehabilitation Tax Credit Program is administered by the Division of Historic Preservation located within the Louisiana Department of Culture, Recreation, and Tourism. Please contact Jessica Richardson at firstname.lastname@example.org or (225) 342-8160 for additional information and eligibility requirements.
For additional information contact Gabriel Vicknair of the Downtown Development District at (225) 389-5520.