Financial Benefits

Photo on the left of an empty room with a fireplace. Photo at right shows restoration of bookshelves around fireplace and a furniture filled room.

Before and after photos from a property on W. Mountain where historic tax credits were applied.

Here’s a brief overview of the financial benefits that are available to property owners in Old Town.

Design Assistance Program

For anyone that owns a property in Old Town.

Up to $2000/year available on a first come, first served basis. Can be used yearly.

Up to $2000 towards general design assistance to help property owners minimize the impacts of additions, alterations, and new construction on neighbors and on the overall historic character of Fort Collins. This should be enough money to get a few ideas from a local architect about ways to sensitively make changes to your house without negatively affecting neighborhood character.

Find out more at: https://www.fcgov.com/historicpreservation/design-assistance.php

Landmark Rehabilitation 0% Interest Loans

For anyone that owns a locally landmarked property, whether it’s been landmarked on its own or within a historic district.

Up to $7500/year available on a first come, first served basis. Can be used yearly. Must be matched by the home owner. Loan is repaid upon sale of the property.

The goal of the Fort Collins’s zero interest loan program is to enable homeowners to keep their historic homes well maintained. The program covers such things as the repair of windows, repointing of brick, structural improvements to the foundation, replacement of rotting wood, etc.

Find out more at: https://www.fcgov.com/historicpreservation/landmark-rehabilitation.php

20% State Income Tax Credit

For anyone that owns a landmarked property, whether it’s been landmarked on its own or within a historic district, that is doing a substantial project ($5000 or more).

Property owners can get up to $50,000 back in a dollar for dollar credit over ten years.

The projects are reviewed according to the Secretary of the Interior’s Standards for Rehabilitation. These were designed by the National Park Service to help people to renovate their homes in a historically sensitive manner. You do not need to “restore” your building in order to claim the tax credit, but you must preserve existing historic features whenever possible. The general rule is to talk to the State preservation folks early and often to ensure meeting their criteria for this credit.

Find out more at: https://www.historycolorado.org/preservation-tax-credit-fact-sheet

There are additional financial incentives through the Federal government for income properties. Learn more at: https://www.nps.gov/tps/tax-incentives.htm

More articles on the financial advantages to owning a historic landmark:

How We’ve Used Our Landmark Designation

How We’ve Used Our Landmark Designation

Our house was built in 1905. The Shenks bought it around 1950. I bought I bought it from David Shenk in 1987. While the house was on the market, the owner had the roof replaced, using cedar shingles, as the house originally had. With very minor exceptions, the house...

read more
Financial Incentives Helped Us!

Financial Incentives Helped Us!

In 2013, City Council approved the creation of the Whitcomb Street Historic District. Once the district was formed, property owners were able to take advantage of significant financial incentives from the State. The following is one family's story. Our house was built...

read more
The Financial Benefits of Being in a Historic District

The Financial Benefits of Being in a Historic District

There are numerous benefits to owning property in a historic district, but probably the most popular is the substantial financial benefits that are available to the owners of properties that have been determined to "contribute" to the district. There are one-for-one...

read more
Investment Properties Benefit Even More From Tax Credits

Investment Properties Benefit Even More From Tax Credits

Investment properties used as rentals are considered by the Federal government to be commercial properties rather than residential. That means that in addition to receiving the 25% dollar-for-dollar tax credit off your Colorado income taxes, you can also receive an...

read more

Creating a Historic District

Want to learn more about historic districts? From financial benefits to environmental impacts and more, you can find a variety of articles under these topics:

Dive Into the History of the Loomis Addition

Curious about the history of our neighborhood? Learn more through these articles:

Additional Fort Collins Preservation Resources

If you’d like to find out more about historic preservation or historic districts, check out these links.