New law raises historic preservation tax credit by fifty percent
Among the more than two dozen bills Gov. Carney signed into law this week is one that raises the tax credit for historic property owners.
The maximum tax credit for rehabilitating a historic, owner-occupied building is now $30,000. It was previously $20,000.
The increase will help property owners like Barb Wright. She lives in the historic Lesley Manor in Old New Castle- and says upkeep can be expensive.
“When you want a board, you don’t just go to Home Depot. You have to have that milled because it’s a true one -inch or two-inch,” she said.
Wright and her husband consider themselves stewards of the property to help it survive into the future.
State Senator Nicole Poore sponsored the bill.
She says it incentivizes citizens to do the work of preserving Delaware’s history— which she says would otherwise fall to the State.