NJ Statewide Conference on Tax Credits for Historic Properties
Contributed By: Barbara Kerr
A statewide conference on tax credits for historic properties will be held on May 18, 2013 at the Plainfield Public Library. The event will be held from 9:30am-12:30pm followed by lunch and a walking tour. Sponsored by the Van Wyck Brooks Historic District, this half-day gathering will address state legislation under consideration in
The Historic Property Reinvestment Act (NPRA) had been previously introduced in the NJ Assembly and State Senate and was overwhelmingly passed in February of 2011. Despite enjoying bi-partisan support the NPRA was vetoed by Governor Christie because it was bundled with other legislation he rejected. At least 30 states offer a similar type of tax credit.
HPRA would allow a New Jersey taxpayer a 25% credit against his/her personal income taxes for residential owners. A business would be allowed a credit against its corporate business tax. Taxpayers not able to use the credit would be able to transfer it.
“New Jersey has a tremendous number of historic structures,” said conference organizer Arne Aakre. “Many of these homes and commercial buildings are significant for their contribution to local history, housing and commerce. Having a tax credit could help owners preserve their properties.”
The May 18 conference will bring together owners of historic properties, policy professionals, developers, contractors, realtors and accountants as well as the general public from across the state. Speakers representing these professions will talk about their experiences and give guidance to those attending. The goal of the conference is to educate and publicize the legislation and to strategize how get it passed a second time and finally signed into law by the governor.
This important conference includes a gourmet lunch and networking opportunity at a local mansion listed on the National Register of Historic Places, plus a guided walking tour of the historic district. There will be a nominal registration fee of $35.00.
Plainfield Public Library is located at 800 Park Avenue, between 8th and 9th Streets
in Plainfield. Parking on the 9th Street side. Attendees must pre-register. No registrations can be taken at the door.
Please do not contact the library. More information and links to registration can be found at:
Or via email at: email@example.com
The Van Wyck Brooks Historic District was the first of 10 such districts created in the City of Plainfield. Designated in 1981, the district was added to the State and National Registers of Historic Places in 1985.
Keywords: tax credits, tax incentives, New Jersey
Posted: April 25, 2013
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