Colorado and the City of Steamboat Springs offer incentives for the preservation and rehabilitation of a qualified historic property. The structure must be at least 50 years old, and must be designated as a historic property in the State Register of Historic Places, or as a landmark by a certified local government, or as contributing property in the State Register of Historic Places, or designated district of a certified local government. If the property on which you want to claim this credit has neither designation, you must apply for and secure such a designation.

City of Steamboat Springs Sales Tax Rebate

Eligibility: Properties listed on the Steamboat Springs Register of Historic Places.

Scope: Renovation work carried out in accordance with the Secretary of the Interior's Standards for work must be approved by the City of Steamboat Springs' Historic Preservation Commission (HPC), and City staff.

Benefit: Rebate at the end of the project on all City of Steamboat Springs sales tax paid on materials used for renovation.

Plaques and Certificates

Eligibility: Properties listed on the State Register, Steamboat Springs Register of Historic Places and the Routt County Register of Historic Properties.

Benefit: Prestige. Brass plaque noting designation. Certificate awarded.

Colorado State Tax Credits for Preservation

Eligibility: For properties listed on the State Register or Steamboat Springs Register of Historic Places.

Scope: Both interior and exterior work can qualify. Work must be in compliance with the Secretary of the Interior's Standards, and/or receive prior approval. Work must be completed within 2 years; however, one extension up to an additional 2 years may be granted if good cause is shown.

Benefit: 20% State Tax Credit of approved rehabilitation cost, up to a $50,000 maximum credit, per qualified property. Credit directly reduces (dollar for dollar) income taxes owed the State. The entire credit may be taken in one year, or carried forward, as needed, for up to 10 years. Rehabilitation costs must be at least $5,000 each time you apply, and an application fee of at least $250 may be charged. If a property is sold within 5 years after completion of qualified rehabilitation, a refund of all or a portion of tax credit taken may be due to the State.

Colorado State Historical Fund

Eligibility: Properties listed on the Steamboat Springs Register of Historic Places, the State Register, the National Register, or contributing structures in Local, State or National Register districts. Private properties must have a nonprofit or government sponsor.

Scope: Projects which involve the stabilization, restoration, rehabilitation, reconstruction or acquisition of a designated property or site. Public benefit of project must be shown. Projects can be phased ~ each phase must be completed in 12 month time period.

Benefit: Mini grants are available for up to $10,000. General grants range between $10,000 and $100,000. A project can receive more than one grant. Facade easements must be placed on projects which receive substantial levels of grant funding.

Federal Tax Credits for Preservation

Eligibility: Non-residential and income producing properties, including rental properties. Properties must be listed on the National Register, or be contributing structures in State or National Register historic districts, or qualify in some other manner.

Scope: Both interior and exterior work can qualify. Work must be approved in advance.

Benefit: 20% Federal Tax Credit for the substantial rehabilitation of qualifying historic buildings. 10% Federal Tax Credit for substantial rehabilitation of not individually eligible resources that were build before 1936 that are non-contributing, non-residential buildings.

Historic Preservation Easements

Eligibility: For properties on the Steamboat Springs Register of Historic Places, the State Register, the National Register, or contributing structures in Local, State or National Register districts.

Scope: Easements may include building facades, interiors, and /or development restrictions on adjoining land.

Benefit: A charitable contribution deduction is allowed for the donation of a historic preservation easement to a preservation organization. Value is determined as the difference between fair market value of the property before the easement and the fair market value of the property after the easement is granted.

Bargain Sales and Donations
Eligibility: Any property sold to a nonprofit organization at less than appraised value, or far and outright donation.

Benefit: The value of the tax deduction is the difference between the appraised value and the sale price.

Local designation includes identifying and registering a qualifying historic building, structure, object, or site over 50 years old, with the Routt County Historic Preservation Board. This is the first step in going on to state and national historic designation, if desired.

Designation to the Routt County Register of Historic Properties:
Does not affect the use of a structure.
Does not affect interior alterations.
Does not require repairs or restoration.
Does not prevent the owner from painting a designated building.
Does not affect the sale of a property.
The Routt County Historic Preservation Board has nomination applications and Historic Routt County! can provide details about the Routt County application process and other pertinent information.

Historic Routt County! A county-wide historic preservation organization whose mission is to preserve the character of Routt County communities and rural areas through the built environment. Efforts focus in five key areas: historic designation, preservation, projects, resource identification, education and advocacy.

For more Information:
Historic Routt County!
P.O. Box 775717
842 Lincoln
Steamboat Springs, CO 80477
(970) 875-1305