What is it? VIP
assists in the preservation of Nebraska's historic places. The
program allows a property tax "preference" for a historic
property that has been rehabilitated. The preference can be described
as a temporary "hold" on increases in property tax
assessment that result from improvements made to preserve a historic
What requirements must a property meet
to be eligible for VIP?
- Eligible properties are those individually
listed in the National Register of Historic Places or historic
properties that contribute to a district listed in the National
Register of Historic Places.
- Under certain provisions, historic properties
can be designated under a local government preservation ordinance.
- The property must be designated as a "historically
significant real property" before work on a project begins.
A historically significant real property is one that is listed
on the National Register of Historic places and is taxable.
- The historic property must be taxable.
- The cost of the rehabilitation must be
25 percent or greater of the "base-year" assessed value
of the property. The base-year is the last assessed value of
the property at the time an application is submitted to the Nebraska
State Historical Society.
- All work done to rehabilitate or improve
the property must meet the Secretary of Interior's Standards
- All work must be done during a two-year
period. In certain circumstances this period may be extended
with the approval of the Nebraska State Historical Society, such
as when the size of the project is such that a good faith attempt
to complete the rehabilitation in two years would not succeed
or when it is economically unfeasible.
- Certain types of work are not eligible.
These include landscaping, new construction, driveways and sidewalks.
For owner-occupied single-family residences, no more than thirty
percent of the dwelling space can be new construction outside
the existing building.
What happens to my taxes?
- A certified project in a qualifying historic
property will result in the property's assessed valuation being
frozen for eight years at its pre-rehabilitation value.
- The valuation then rises to its market
level over a period of four years.
- Taxes must still be paid under the terms
of this program. The property is not removed from the tax rolls.
- This is not a tax exemption. In certain
cases, taxes may rise during the term that rehabilitation is
- However, once the final certification
is issued, the assessment will drop back to the base-year value
and the "hold" will begin. Additional taxes paid due
to a temporary assessment rise cannot be recouped.
This brochure gives a more "in-depth" look at the program.
Instructions for the VIP application (word)
Please print off your finished application and send
it by US Mail. We will not accept email versions of this
The Secretary of the Interior's Standards
for Rehabilitation (pdf)
Survey & Inventory
Register of Historic Places
Valuation Incentive Program