Statewide & Federal
NY Historic Barn Rehabilitation Tax Credit
A state income tax credit worth 25% of what you spend fixing up an older barn. The barn does not have to be on a historic register.
What It Offers
- 25% back on rehab costs - a New York State income tax credit for 25% of qualified rehabilitation spending, with no cap on the credit.
- No historic listing needed - the barn does not have to be on the State or National Register of Historic Places.
- Built before 1946 - the barn must have been originally used for farming or related purposes. It does not have to be farmed today.
- At least $5,000 in qualified work. The barn cannot be turned into a home, and it cannot have been lived in during the year before you apply.
- Refundable for new businesses, according to the NYS Tax Department.
How to Apply
- Step 1: Show the state your barn. Fill out a short form about you and the barn (when it was built and what it was used for) so the state can confirm it qualifies. On the state's forms this is called Part 1.
- Step 2: Tell them what you plan to fix. List the work, such as the roof or the frame, with estimated costs and photos of the barn as it is now. This is Part 2. You can send Steps 1 and 2 together, before or during the work, but sending them early lets you find out what counts before you spend money.
- Step 3: Do the work and keep every receipt. Costs you paid in the five years before you claim the credit can count.
- Step 4: Show the finished work. Send photos of the completed barn and a list of what you spent. This is Part 3. When the state approves it, you get a Certificate of Completion.
- Step 5: Claim the credit on your taxes. Use Form IT-212-ATT for the year Step 4 was approved. Talk with your tax preparer before you start.
Source: parks.ny.gov (NYS Office of Parks, Recreation and Historic Preservation) and tax.ny.gov (NYS Department of Taxation and Finance). Program rules can change - confirm current requirements with the State Historic Preservation Office before starting work.
