Before You Tear That Old Barn Down ...

Sep 13, 2017

Credit Creative Commons CC0

Barns are as much a symbol of the High Plains as the plains themselves and while many old barns are being replaced with metal sheds and outbuildings, there are ways to give barns a new shot at life.

According to the Center for Rural Affairs, financial assistance through state and federal tax credits may be available to help aid in the process of restoring an old barn.

There are several steps to be taken, however.

Tax credits and incentives only apply to barns or other buildings that have been designated as historic places and produce an income, so many states will insist the barn be registered with the National Register of Historic Places.

Most states have an option for property tax incentives. Your local government or state historic preservation office will be able to tell you if you can take advantage of those incentives.

When an old barn is used for business purposes, depreciation may be claimed including funds provided by the owner for rehabilitation.

Grants and loans may also be available.