The South Dakota State Historical Society board approves property tax moratoriums

The South Dakota State Historical Society board approves property tax moratoriums The South Dakota State Historical Society board of trustees recently approved 32 applications for the eight-year state historic preservation property tax moratorium for restoration and rehabilitation made to historic buildings. The projects meet the U.S. Secretary of the Interior's "Standards for Rehabilitation." Sites approved for the property tax moratorium in Clay County are the Davis Pharmacy Building, 12 W. Main; and a site at 123 Willow.  "These approvals are significant because if an historic building qualifies for the tax benefit, an eight-year delay is placed on the property tax assessment of any certified improvements," said Jay D. Vogt, director of the State Historical Society. "Property tax assessments may not be increased due to certified rehabilitation of the building." The property tax moratorium is an incentive for owners of properties listed in the National Register of Historic Places to maintain and rehabilitate their homes and businesses, Vogt added. For more information on how to qualify for the state historic preservation property tax moratorium, contact the State Historical Society at (605) 773-6005.