Historic properties now eligible for tax credit

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BELOIT - Property owners in a newly established historic district in Beloit are now eligible for a tax credit program for certain projects, moving the effort ahead for national designation, according to city staff.

The new Milwaukee and Emerson Residential Historic District recently was listed on the State Register of Historic Places by the state Historic Preservation Review Board. Currently 159 properties are eligible for the tax credit program (150 in the City of Beloit and nine in Turtle Township). Depending on the project, homeowners can apply for an income tax credit of up to 25 percent of the project's cost.

"This nomination recognizes the city's long-term commitment to preserving and strengthening our historic, walkable, and tree-lined neighborhoods, which are full of architectural significance," said Drew Pennington, Beloit Director of Planning and Building Services. "These neighborhoods can now undergo significant renovation projects to preserve the beauty of these homes with this tax credit program."

Now the new historic district will be submitted for nomination to the Department of the Interior for the National Register of Historic Places for national considerations. It encompasses properties primarily along Chapin Street, Emerson Street, Milwaukee Road, Oakwood Avenue, and Sherwood Drive. The effort started in 2015 following a survey of the area and polling of residents, with one of the primary reasons relating to a wealth of homes built between 1868 and 1969 based from the Queen Anne, Ranch, Prairie, Colonial Revival, Tudor Revival and Dutch Colonial Revival architecture styles.

The new district is the fourth created in the city, including the Bluff Street Historic District, the Near East Side/College Park Historic District, and the Merrill Street Historic District. Additionally the city has nearly four dozen individually listed landmarks and landmark sites.

More information on the historic district program and tax credit resources are available at wisconsinhistory.org.

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