South Dakota State Historical Society officials remind property owners that Nov. 1 is the deadline to apply for the state property tax moratorium.
State law encourages historic preservation of private property by providing this property tax break. The eight-year moratorium is for restoration and rehabilitation work completed on historic sites during 2022. A new application for certification is necessary for every year that work is undertaken.
Fourteen properties across the state were approved by the State Historical Society board of trustees for the program in 2021.
"These approvals are significant," said Ted Spencer, the State Historic Preservation Officer. "If a historic building qualifies for the tax benefit because of certified improvements, an eight-year delay is placed on the property tax assessment. The assessments may not be increased due to certified rehabilitation of the building."
The state property tax moratorium is available for buildings listed on the National or State Register of Historic Places and rehabilitated in accordance with the Secretary of the Interior's Standards for Rehabilitation.
For more information about the State Historic Preservation Property Tax Moratorium, contact the State Historical Society at 605-773-2907 or visit the society's website at history.sd.gov/preservation and click on Funding Opportunities in the right column.
Categories: South Dakota, Government & Policy