This text was obtained via automated optical character recognition.
It has not been edited and may therefore contain several errors.
STATE OF MISSISSIPPI DEPARTMENT OF ARCHIVES AND HISTORY P. 0. BOX 571 JACKSON, MISSISSIPPI 39205 BOARD OF 1RUSTEES W.lLiAM f V. >;*1 I< Cf<LLilOfcNT April ], 1977 JUHN K Bfc’TTt Hi WUMTH AHCM L)ALWT MPi. ! Ill FMANK L tVt.Ht.TT JH MH‘ MiTCHtLl ROfKNSOS ESTUi. .) MlTH t.tHh TTfc THUU Thoma-j h wath‘.v Sr<t HVVi -OO W V, l*..f f l HI HT W HlLi iAHl; tJtHI C TOM Mrs. Elmore M. Gibbons Hancock Comity Historical Society', Inc. P.O. liox 1340 Bay St. Louis, Mississippi 39520 Dear Mrs. Gibbens: Your letter inquiring about historic districts and tax advantages for historic structures has been forwarded to me for reply. I very much regret the delay of this response and assure you it was not occasioned by indifference . The Tax Reform Act of 1976 provides owners of "certified historic structures" the opportunity of writing off the cost of rehabilitation expenses over a five year period if certain specific conditions exist. Those conditions are: (1) The structure is listed on the National Register of Historic Places or is located within a historic district listed in the Register or is located within a locally established district which effectively accomplishes the goals of the National Register. Those structures located within districts must be certified by the Secretary of the Interior as contributing to the historical or aesthetic qualities of the district. (2) Properties must be "income-producing" - such as business or commercial structures or residences rented for income. (3) The rehabilitation may not occur before June 30, 1976 nor after January 1, 1981 and must involve at least $5,000 worth of capital improvements. (4) The rehabilitation must be certified by the Secretary of the In- terior as being consistant with the standards for rehabilitation as defined by the office of Archaeology and Historic Preservation of the National Park Service. If these criteria are met, the owner of a historic property will enjoy considerable financial relief from the ever-increasing costs of rehabilitation expenses. Unfortunately it docs not provide the same relief for home owners as historic dwellings are rarely held for "income producing" purposes.
National Register Document (093)