- July 27, 2026
- Kelly C. Ruffel
The Homeowners’ Historic Property Reinvestment Act is proposed New Jersey legislation that would provide a refundable state income tax credit to help homeowners restore and preserve historic properties. The goal is to encourage investment in New Jersey’s historic homes while protecting the state’s architectural and cultural heritage.
Under the proposal:
- Eligible homeowners could receive a 25% refundable state income tax credit for qualifying rehabilitation expenses.
- The credit would be available for owner-occupied historic homes that serve as the homeowner’s principal residence.
- Properties must be listed on, or contribute to, the National Register of Historic Places, the New Jersey Register of Historic Places, or certain locally designated historic districts that meet state preservation standards.
- To qualify, the rehabilitation work must:
- Meet the Secretary of the Interior’s Standards for Rehabilitation;
- Cost at least 50% of the property’s equalized assessed value before work begins; and
- Limit interior work to no more than 60% of the total rehabilitation costs.
Additional program highlights include:
- A maximum credit of $25,000 per property over a 10-year period.
- Credits are refundable, meaning homeowners may receive a refund if the credit exceeds their state income tax liability.
- The State would cap the overall program at $15 million in approved tax credits.
- Homeowners must continue to own and occupy the home for at least 12 months after the rehabilitation is completed, and significant alterations made within five years that compromise the historic rehabilitation may require repayment of some or all of the credit.
If enacted, the legislation would make it more affordable for homeowners to preserve New Jersey’s historic homes, encourage reinvestment in historic neighborhoods, support local contractors and craftspeople, and help ensure that historically significant properties remain preserved for future generations.
Read the bill here: New Jersey Legislation S3545 / A870
John Reilly
| 28 July 2026Cape May Point, Bew Hersey once known as Historic Sea Grove is in desperate need for creating a Historical Preservation.The small community is enriched with History of the Lenape Indian Tribute, Sea Captains,, a Historic Lake Lily with desperately seeking a restoration of it’s natural unground spring water flowing into this body of water…Many Landmarks have been demolished and destroyed, with obsolete structures of modern distasteful horror construction.
Lois Rivera
| 28 July 2026It’s a start. But it is not a grant. Owners have to have the money upfront to start and finish the jobbed it always costs more than expected especially in old homes.
Most often the owners of properties age out of the get a load market and the properties fall into ruin. I see this in my own Old Neshanic Village in Hillsborough, NJ. More is needed, however this is start.