BELOIT, Wis. (WMTV) -- Property owners in the new Milwaukee and Emerson Residential Historic District are now eligible for a tax credit program for certain projects, the City of Beloit announced on Friday afternoon.
The new historic district was recently listed in the State Register of Historic Places by the Historic Preservation Review Board, according to the announcement sent to NBC15.
At this time, all 159 contributing properties are eligible for the tax credit program — 150 in the City of Beloit and nine in the Town of Turtle. Depending on the project, homeowners can apply for an income tax credit of up to 25 percent of the cost of the project.
There are now over 300 properties eligible for the tax credits in the City of Beloit. The Milwaukee and Emerson Residential Historic District is the fourth district to be created in the city.
Other districts include the Bluff Street Historic District, the Near East Side/College Park Historic District, and the Merrill Street Historic District. Additionally the city has nearly four dozen individually listed landmarks and landmark sites, according to the announcement.
The next step is submitting the Milwaukee and Emerson Residential Historic District nomination to the Department of Interior for the National Register of Historic Places. The historic district is not being considered for local regulation/designation at this time, according to the announcement.