MRIS is excited to provide the ability for home buyers and real estate professionals to identify homes within Historic Districts in the city of Baltimore. Thanks to the city of Baltimore for supplying MRIS will all historical data and tax records needed. MRIS has modified the status for Historic District properties for the first time – this is BIG!!!
“This information is especially critical in areas like Baltimore City, where a significant number of properties fall within a local or federally designated historic district,” says Joseph Landers, Executive Vice President, Greater Baltimore Board of REALTORS® (GBBR). “ It is imperative that new home buyers be made aware of the historic status of properties, so they are fully aware of remodeling restrictions that may apply and do not miss out on possible tax benefits. “
So what does this really mean?
Avoid confusion! Many homeowners that did not know their homes were classified in a historic district were understandably frustrated when the City of Baltimore told them to undo or redo remodeling projects because they were unaware of historic construction restrictions.
Understand costs! Homeowners in historic districts may experience higher construction costs in order to meet the higher standers of historic district requirements. Now, homeowners can financially prepare to meet these standards.
Know the benefits! Homeowners in historic districts will no longer miss out on favorable tax benefits because they will be 100% aware they are eligible.
MRIS is recognizing 2,359 (out of 5,836 active listings)with the new historic district status. With such a high percentage- 40% – of the city of Baltimore directly affected, MRIS thanks the City of Baltimore and the Baltimore City Commission on Historic and Architectural Preservation for providing the data needed.
For more information and FAQ’s, click here!