Tax Credits & Exemptions

  1. Income

    An individual taxpayer who purchases or rehabilitates a single-family residential property for their primary place of residence is exempt from up to $10,000 of personal income tax liability.

  2. Historic Preservation & Renovation Tax Credit

    A credit of twenty-five percent of an investment is allowed for the preservation and renovation of eligible historic property that is part of a zone project up to a maximum of $250,000.

  3. Property

    A municipality may grant a partial or complete exemption from ad valorem taxation on single-family residential property for five years, excluding land value , if the property was purchased or rehabilitated by an individual for the individual's primary place of residence.