What is a Historic District?
The Bessemer City Downtown Historic District is comprised of commercial, public and private properties. The district includes properties that are now included in the National Register of Historic Places. This list includes properties that are “significant in American history, architecture, archaeology, and culture- a comprehensive index of the significant physical evidences of our national patrimony.”
Within the district, several properties qualify for State and Federal Historic Tax Credits. These tax credits can be applied towards qualifying expenses that remodel and/or restore historic structures. The State of North Carolina offers a 20% tax credit for income-producing commercial properties and a 30% tax credit for mill restoration projects. The Federal government offers a 20% tax credit for income-producing commercial properties and 20% tax credit for mill restoration projects. Redevelopment projects in downtown are potentially eligible for up to a 40-50% tax credit.
Contact us if you are interested in tax credits or have questions about the district!