The Historic Preservation Tax Incentives program promotes the restoration and preservation of historic properties.
Eligible costs are those expenses incurred in rehab of the building, including roofing, mechanical systems, window repairs, tuckpointing, foundation repairs, and etcetera. Two incentives are offered; the state Property Tax Moratorium and the federal Income Tax Credit. This program is administered by the South Dakota State Historical Society.
The Moratorium completely exempts the increased assessed value of the rehabilitated historic buildings from property taxes for eight years. The Income Tax Credit provides a 20 percent income tax credit.
