New Mexico offers state income tax credits in the amount of 50% of the cost of approved work to owners of historic structures who accomplish rehabilitation of qualifying properties.
Property must be individually listed or contributing to a historic district listed in the NM Register of Cultural Properties. The property may be a personal residence or income-producing property such as an apartment building or office.
The Monte Vista and College View Historic District is such a district. 702 of the 859 houses and other structures in the District are contributing. The District is listed on the NM Register of Cultural Properties as well as the National Register of Historic Places. The 702 houses qualify to display a plaque like this one.
Over 70 owners in the Monte Vista and College View Historic District have used the NM Tax Credit Program. Approved projects have included new roofing, modernizing electrical and plumbing systems, refinishing wood floors, and replacing heating and cooling systems.
Work must be approved before it is performed! Call Harvey Kaplan of the NM Historic Preservation Division, 505-827-3971 or email him at firstname.lastname@example.org
The remaining 4 residential additions in Nob Hill are eligible for listing.
Contact theBoard@NobHill-NM.com for information.