State law will help landowners restore historic barns

SAUGERTIES, N.Y. » Landowners who have historic barns on their property will be able to get tax breaks to restore them under a law pushed by two regional state representatives.

Sen. Michelle Hinchey, D-Saugerties, and Assemblywoman Didi Barrett, D-Hudson, announced that their bill (S.6042/A.6947) to create a tax program to help landowners restore historic barns across rural and upstate New York has been signed into law by Gov. Kathy Hochul.

Property owners will soon be eligible to apply with the state Historic Preservation Office for a 25% tax credit to restore barns constructed before 1945 back to productive use or into small businesses such as craft breweries, event spaces, and the like, to foster economic growth.

The Historic Barn Rehabilitation Tax Credit, once a federal program, was eliminated in 2018 as a result of changes in the federal tax code under the Federal Tax Cuts and Job Act of 2017, a press release said.

“Historic preservation is a pivotal strategy for rural revitalization and by instituting the Historic Barn Rehabilitation Tax Credit we are making it more affordable for New Yorkers to save these beloved buildings from disrepair and explore new uses in agritourism, arts and culture,” Hinchey said in the release. “This incentive will help preserve thousands of historic barns across rural and upstate communities, allowing us to trace back New York’s rich agricultural heritage, boost community pride, and capitalize on valuable opportunities to revive local economies.”

Barret felt similarly. “Our iconic historic barns embody the Hudson Valley’s rural and agricultural roots, and the preservation, restoration and repurposing of these barns is critical to maintaining the region’s bucolic character, as well as the regional economy,” Barrett said. “By resurrecting the New York State Historic Barn Rehabilitation Tax Credit, we are incentivizing a new generation of farmers, architecture enthusiasts, and business owners to reconnect with the state’s past while building for their own future.”