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Reply to "Advice on Registering a Historic Property in Virginia"
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[quote=Anonymous]One huge benefit is you usually can file for a “facade easement” and take a huge tax deduction because typically historic designation doesn’t care too much what you do to the interior but you are quite restricted what you can do to the exterior…especially what is generally visible to the public. You get an appraisal company familiar with historic designation to come up with a value for this easement and a charity that accepts your donation and it’s as though you made a large charitable donation that you can write off your taxes. I agree with PP that you likely are restricting your resale value so in theory this helps make up for it.[/quote]
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