There are Federal, State, and City programs which aid in the preservation and restoration of Historic properties. Some of these programs are listed below:
Local:
There is a tax credit on City real property taxes based upon the amount expended by a property owner for preservation, restoration, and rehabilitation of any structure having historic or architectural value which is designated a City of Annapolis Landmark by resolution of the City Council based upon designation by the Annapolis Historic Preservation Commission. There is also a Sprinkler Assistance Revolving Fund and necessary procedures for the purpose of encouraging the installation of sprinklers in older buildings throughout the City.
State:
The Heritage Rehabilitation Tax Credit Program, administered by the Maryland Historical Trust, provides Maryland income tax credits equal to 20% of the qualified capital costs expended in the rehabilitation of a “certified heritage structure.”
Federal:
Federal historic preservation tax incentives are available for any qualified project that the Secretary of the Interior designates a certified rehabilitation of a certified historic structure. However, to qualify for the federal tax credit, the property must be income producing, or commercial in nature.
Other programs:
Contact the Historic Preservation Officer, 410-263-7961 in the Department of Planning and Zoning for more details.