Residents in Emerson Heights are eligible for the DNR Historic Preservation Indiana Residential Historic Rehabilitation Credit. (State Form 50743)
The credit is available to Indiana state income taxpayers who undertake certified rehabilitations of historic buildings that are principally used and occupied by the taxpayer as the primary residence. The credit allows for up to 20% of total qualified rehabilitation or preservation cost.
The minimum expenditures are $10,000. The project may be broken into phases not to exceed a 5-year period. Any unused portion of the tax credit that results from limited annual tax liability may be carried forward for up to 15 years. There is no fee to apply for this credit. You must live in the home at least 5 years after claiming the credit to avoid a repayment requirement.
Getting Started
- Download and review the Emerson Heights Historic Tax Credits Presentation for an overview of the process
- View the list of Conforming Houses to confirm that your home is a conforming home on the list.
To easily find your house, hit control + F (or command + F on a Mac) and type in your house numbers. You can hit “next” until you find your home.
Application
- Review this guide on How to Get Started which has a step by step on how to apply. (Also embedded on this page if you scroll down.)
- Download the Application
Questions?
The DNR will have final say and should be consulted for questions and before beginning any work. If you have any questions or need assistance, contact Ashley Thomas at (317) 234-7034 or asthomas@dnr.IN.gov.