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Sperryville
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increase from the current 15 percent to 25 percent in the year 2000. Federal tax credits will remain at 20 percent. A tax credit is money deducted directly from income tax liability. Non-historic buildings, defined as being built before 1936, are eligible for a 10 percertt federal tax credit.
In order to qualify for the Federal Rehabilitation Tax Credit Program, an application and a fee must be submitted to the Department of the Interior and approved before restoration work is begun. The state program requires a separate application, but the two may be submitted together.
For more information the Virginia Department of Historic Resources can be contacted at 2801 Kensington Ave., Richmond, 23221 or telephoned at (804) 367-2323.
“Preserving our history will not only generate tax revenues, but will increase property values and create historic stewardship,” said Barbara Williams, Sperryville Historic Committee chairperson.
In the year and a half since the Sperryville Historic Committee met at Belle Meade to listen to the co-chair of the
97.6%