The Historic Marker designation is needed to be eligible for the "Level 1 Exemption" that provides a 100% exemption from City ad valorem taxes for 10 years. This application requires a detailed history about the house and the people who lived there. Some of the information that is asked for in the application includes the home’s deed history and biographies about the home’s past residents along with photos are just . The application essentially requires you create what amounts to a research paper about your house.
Unlike other historic certifications, the McKinney Historical Marker does not add any restrictions to you house that aren't already required. The historic designation, as well as the tax exemption, adds value to you house since the tax savings conveys to a new owner should you sell before the 10-year exemption expires.
If you don't have the time or the inclination, I can help you navigate the complex process of obtaining historic designation for your house and the financial benefits it offers. I charge $1,700 which means if your house appraises for more than $400,000 you will receive a $300 net savings the first year your exemption takes effect. You will save $2,000 every year after that.
It takes me about six weeks to complete an application, but you don’t pay until I submit your application. Along with submitting your application to the City, I will provide you a 30 to 40-page presentational document that includes newspaper articles, genealogies, photos, maps and texts relating to your home’s history and its architectural significance. Applications submitted now apply to the following year's taxes.
If you wish to research and prepare an application on you own, click here to download a copy. Otherwise, if you would like more info, I am happy to answer any questions you might have. If you would like me to take on your project, just send me an email stating so. Please include your name, phone number, and the home's address.
Copyright © 2024 McKinney History - All Rights Reserved.
Powered by GoDaddy