These areas highlighted in blue on the interactive map below on Birmingham’s Southside have all been designated historic districts by the Alabama Historical Commission. This can be of benefit to owners who want to own or renovate an historic building or home.
The Alabama Historic Rehabilitation Tax Credit is a 25% refundable tax credit available for private homeowners and owners of commercial properties who substantially rehabilitate historic properties that are listed in or eligible for the National Register of Historic Places and are 60 years old or older.
Click on the interactive map above to locate your property. The State of Alabama encourages owners of historic income-producing properties to maintain them by providing tax credits for rehabilitation. Properties built before 1960 and in an historic district would most likely be eligible for the credit. Owners of income-producing historic properties can use this program to improve and repair their properties while receiving tax credits against income tax they owe to the State of Alabama.
1) Property must be at least 60 years old…
2) Property must be listed in the National Register of Historic Places either individually or as a contributing resource in a listed National Register district.
OR
3) Property must be eligible for the National Register either individually or as a contributing resource in an eligible National Register district.
The Alabama Historic Rehabilitation Tax Credit is a 25% refundable tax credit available for owners of income-producing properties who substantially rehabilitate historic properties that are listed in or eligible for the National Register of Historic Places and are 75 years old or older.
What expenses qualify for the credit?
Repair of exterior materials; repair of structural systems; repair of interior finishes like floors, walls, and ceilings; upgrades to HVAC, electrical, and plumbing; and architectural, engineering, and land surveying fees.
The Wallace Property Relief Constitutional Amendment (“Lid Bill”) Code of Alabama 40-8-1 Section 2. allows all historic property, regardless of use, to be assessed at 10% of the assessed value for ad valorem tax purposes.
Birmingham Historical Society 