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Owners of properties like Plainfield's Coriell Mansion would benefit from Historic Property Tax Credits. |
A statewide conference on tax credits for historic properties will be held this Saturday at the Plainfield Public Library. The conference runs from 9:30 AM - 12:30 PM, followed by a catered lunch and a walking tour. Sponsored by the Van Wyck Brooks Historic District, this event will address state legislation under consideration in Trenton that would allow generous tax credits to owners restoring historic properties, whether residential or commercial.
The Historic Property Reinvestment Act (NPRA) had been previously introduced in the NJ Assembly and State Senate and was overwhelmingly passed in February of 2011. Despite enjoying bi-partisan support the NPRA was vetoed by Governor Christie because it was bundled with other legislation he rejected. At least 30 states offer a similar type of tax credit.
HPRA would allow a New Jersey taxpayer a 25% credit against his/her personal income taxes for residential owners. A business would be allowed a credit against its corporate business tax. Taxpayers not able to use the credit would be able to transfer it.
'New Jersey has a tremendous number of historic structures', said conference organizer Arne Aakre. 'Many of these homes and commercial buildings are significant for their contribution to local history, housing and commerce. Having a tax credit could help owners preserve their properties.'
The conference will bring together owners of historic properties, policy professionals, developers, contractors, realtors and accountants as well as the general public from across the state. Speakers representing these professions will talk about their experiences and give guidance to those attending. The goal of the conference is to explain and publicize the legislation and to strategize how to get the bill passed a second time and finally signed into law by the governor.
This important conference includes a catered lunch and networking opportunity at a local mansion listed on the National Register of Historic Places, plus a guided walking tour of the historic district.
Registration is $35/person and must be made in advance because of space limitations. No registrations can be taken at the door. More information and links to online registration can be found here or by email to vanwyckbrooks@gmail.com.
The Plainfield Public Library is located at 800 Park Avenue, between 8th and 9th Streets. Event parking available in the 9th Street lot.
The Van Wyck Brooks Historic District was the first of 10 districts created in the City of Plainfield. Designated in 1981, the district was added to the State and National Registers of Historic Places in 1985.
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1 comments:
This is great, but why is not Plainfield's Historic Preservation Committee doing anything like this? In fact, what do they do to foster interest in people buying in an historic area? All I am aware of is that they look at plans, delay taking action, offer no guidance to people who are in an historic district. It think the long timers need to go, and we need people who are willing to be proactive in helping with historic preservation in Plainfield.
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