State Historical Society offers property tax moratorium
PIERRE — South Dakota State Historical Society officials are reminding property owners that Nov. 1 is the deadline to apply for the state property tax moratorium.
The eight-year moratorium is for restoration and rehabilitation work completed on historic sites during 2013. A new application for certification is necessary for every year that work is undertaken.
“These approvals are significant,” said Jay D. Vogt, State Historical Society director and state historic preservation officer. “If a historic building qualifies for the tax benefit because of certified improvements, an eightyear 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 U.S. Secretary of the Interior’s Standards for Rehabilitation.
The property tax moratorium is an example of how history can have an economic impact on the state, Vogt said. The 19 projects approved by the State Historical Society board of trustees for the program in 2012 represented more than $4.38 million in private investment in South Dakota’s historic buildings, he said.
— Source: South Dakota State Historical Society