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New York State Historic Home Ownership Rehabilitation Program for 20% Tax Credit!

New York State Historic Home Ownership Rehabilitation Program for 20% Tax Credit!

New York State Historic Home Ownership Rehabilitation is a state funded program designed to assist homeowners in Albany NY with repairs. The home has to be located in one of the historic districts within Albany NY. The following districts within Albany NY that qualify: Arborhill (Ten Broeck), Center Square/Hudson Park, Mansion, Pastures Clinton Ave (Incl. Lark & Lexington historic districts, Washington Park, Elberon Triangle, Lafayette Park, Downtown Albany, South End/Groesbeckville and upper Madison. Additional properties that are included are properties individually listed on the National Register of Historic Places (NR) and other NR/ City of Albany Historic Districts, including – Broadway/Livingston, Buildings located at 744- 755 Broadway Albany NY, Knox Street, Lustron houses of Jermain street, & the south Pearl St Commercial Row. The list of resources at the bottom of this post can help you identify your current home or your future purchase falls within a historic district.

General Guidelines

The eligible work that is included in the New York State Historic Home Ownership Rehabilitation Tax Credit Program is interior and exterior and repairs or replacement of different components listed below that DOES NOT significantly change the overall historic appearance of your Albany NY home.

  1. Structural Systems – foundations, walls, ceilings and attic rafters

  2. Roofing systems and components – roof coverings (Example Shingles), rafters, soffits, fascia, downspouts and gutters

  3. Interior Work – walls, floors, stairs, ceilings and trim around doors and windows

  4. Mechanical and Utility systems – Heating, air conditioning, ventilation, plumbing and electrical systems including fire safety and security systems as well.

  5. Exterior – Cornices, porches including foundation, dormers, siding, brackets, railings, stairs, columns, door and window trim, chimneys and masonry walls

  6. Weatherproofing- whether stripping, caulking, and some insulation upgrades.

  7. Doors and windows including frames, glass, hardware, frames and storm windows

*The credit excludes work outside of the structure of the buildings such as fencing, landscaping, new additions etc

Program Criteria

  1. You must own and live in a house located