Milam County Historical Commission
Milam County, Texas
Milam County, Texas
All Credit for this article
goes to Alex Wukman
and the
Temple Daily Telegram
goes to Alex Wukman
and the
Temple Daily Telegram
Profiting from preservation
Historic home tax credit could have huge impact in Belton
Temple Daily Telegram - 2014-10-18
by Alex Wukman - Telegram Staff Writer - Belton
When the Texas Historic Preservation Tax Credit Program goes into effect on Jan. 1 it
could have a large impact in Belton. The city has 442 historic properties in five
historic districts, said Erin Newcomer, Beltons planning director.
The tax credit allows businesses or homeowners to take 25 percent off the eligible costs
of a rehabilitation project. The project must be at least $5,000 to qualify.
Despite the possible economic impact to the area, many historic homeowners remain unaware
of the new tax credit.
We didnt know about it, said Brett Baggerly, who owns a mid-century home with his
wife, Tammy. We could redo our kitchen.
The refund - along with other state and federal tax incentives - is designed to lessen
the often steep cost of rehabilitating historic homes.
I could never recoup the amount invested in this house, said Sheila Donahue, who owns a
Victorian-style home.
These old homes are more than just a house; they are almost a living organism because of
the amount of care they require."
She said the house, which she has owned since the early 1980s, will soon require the
porch to be retreated and waterproofed. Although it will be the fourth time she has
repaired the porch in 30 years, she considers it a relatively minor expense.
It's the things you don't see that are the huge costs, Donahue said.
Brett Baggerly agreed with Donahue's assessment.
He said that when he and Tammy purchased their home, they had to update wiring through-
out.
"We had to take out all the electrics, install new wires and sockets", Brett said.
He said that despite all the costs, he and Tammy would not change their home for a new,
more modern one.
"It takes a certain type of person to buy an older home", Brett said. "And we like to
think that we are old-home people.
"The sale of a historic home can present a unique set of challenges", professional real
estate appraiser Dean Shipp said.
"An appraisal of a historic home can be difficult," Shipp said. "It's just because there
aren't that many 100-year-old homes that are being sold in the area."
He said trying to find a home from the same period in similar condition could require
appraisers to travel farther afield and search "a little further back" in the property
records.
Despite the difficulties in caring for and selling a historic home, the demand remains
high, Belton real estate agent Andrea Shaw said.
"We get a lot of calls from people who don't qualify for the mortgage who want to buy
historic homes," Shaw said. "If a historic home is maintained and priced correctly, it
will sell."
Part of the popularity of historic homes comes from nostalgia, Tammy Baggerly said.
"People want to go to a small town and see the old houses," she said.
awukman@tdtnews.com
*****************************************************************************************
For More Info on Tax Credits available:
*****************************************************************************************
The exterior of Sheila Donahue's historic Victorian-style house in Belton.
Sheila Donahue cans pear butter in the renovated but still intimate kitchen of her Belton home.
Brett and Tammie Baggerly sit in the dining room of their historic home on Penelope Street in Belton
photos by Michael Miller/Telegram
photos by Michael Miller/Telegram
.