NM 50% Tax Credit to Renovate Your Historic House and Historic Listing of 1916 University Heights
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Over a hundred homeowners in Nob Hill have claimed New Mexico tax credits for qualifying, pre-approved work like reroofing, new heating and cooling, new electrical service, new water and sewer pipes under the house and to the street, restoring wood floors, and purchasing a NM Register plaque. The credits cover 50% of qualifying costs and are applied directly against New Mexico income tax. You get up to five years to use them.
Nob Hill Neighborhood Association plans a workshop on Saturday, May 17, to help you get started. Come at noon to enjoy light lunch and social time. At 12:30 Steven Moffson of NM Historic Preservation Division will discuss progress his office is making toward listing University Heights as a historic district which would make many homeowners there eligible for the tax credits. If listed it will join the 1926 Monte Vista and College View, 1925 Granada Heights, and 1945 Broadmoor Addition Historic Districts in Nob Hill. See if your house qualifies at NobHill-NM.com, Neighborhood History tab.
At 1pm Matt Saionz of the Historic Preservation Division will discuss how you can apply for the credits for renovating your historic house. Neighbors who have used the program will share lessons learned. We thank Monte Vista Christian Church, 3501 Campus Blvd NE, for generously sharing their Bethany Hall.
Some costs like window replacement, additions, landscaping, maintenance, and demolition are not generally eligible. Work must be approved before it is started. This can take a couple months. Early consultation with coordinator Matt Saionz is critical. He can advise if your house is eligible and what work will qualify. Reach him at (505) 827-4040 or matt.saionz@dca.nm.gov
