Otsego 2000 to offer program on new NYS Historic Barn Tax Credit

On Wednesday, May 18 at 6 pm, Otsego 2000 will offer an informational session on the new NYS Historic Barn Tax Credit Program. The free event, which will be held in the Lakeview Pavilion at Glimmerglass State Park, will feature Olivia Brazee from the State Historic Preservation Office and Ellen Pope, executive director of Otsego 2000.

Owners of historic barns (built before 1946) may be eligible for New York State’s new Historic Barn Tax Credit program for qualifying expenses to rehabilitate or maintain their barns. The 25% credit, available to barn owners who pay New York State income tax, can be applied to qualifying barn rehabilitation and/or maintenance expenses incurred in the previous five years. Owners must spend at least $5,000 to claim the credit, and the historic exterior appearance of the barn may not be altered. The credits do not apply to barns that have been converted or will be converted to residential use, though other commercial uses are permitted.

“Historic barns are an intrinsic and vital element to our region’s landscape and economy, and yet maintenance expenses can be prohibitive. This tax credit will provide a valuable incentive to preserve our farm buildings for present and future use, and Otsego 2000 looks forward to assisting property owners in applying for the credits,” said Ellen Pope.

Otsego 2000 also offers free technical assistance to homeowners applying for the Historic Preservation Tax Credit. In New York State, Otsego County has the fifth highest number of homeowners participating in the Historic Preservation Tax Credit.

Application forms and information will be available for attendees. The program is free, but registration is recommended. To register, go to bit.ly/BarnTaxCredit or call Otsego 2000 at 607/547-8881.

Otsego 2000 is a not-for-profit organization founded in 1981 to ensure the Otsego Lake region remains a masterpiece of nature by protecting and supporting its environmental, scenic, cultural, historic, and agricultural resources and its economic well-being. Otsego 2000 accomplishes its mission through programs like the Cooperstown Farmers’ Market, Otsego Outdoors, Glimmerglass Film Days, historic preservation initiatives, and environmental stewardship.