FAQ – Historic Nashville Inc

Why should I join Historic Nashville, Inc.?

In addition to offering HNI financial support through your membership fees, as a member of HNI, you will gain access to annual members’ only events and behind the scenes tours of some of Nashville’s most beloved historic places. HNI advocates for historic places in Nashville through our advocacy work, including our annual Nashville Nine list. We also protect historic resources through our Facade Easement

Now that I’m member, how can I contribute more?

HNI is a volunteer organization funded by charitable contributions and driven by the work of our members. Please consider joining one of our committees, attending one of our events, making an additional donation, or nominating an endangered place for our Nashville Nine list. We appreciate your support!graphic_05

FAQ – Easements

What is an easement?

A preservation easement is a voluntary legal agreement that protects a significant historic or cultural resource. An easement provides assurance to the owner of a historic or cultural property that the property’s intrinsic values will be preserved through subsequent ownership. In addition, the owner may obtain substantial tax benefits.

How long do easements last?

Under the terms of an easement, a property owner grants the rights to their property’s facade to Historic Nashville, Inc. Once recorded, an easement becomes part of the property’s chain of title and usually “runs with the land” in perpetuity, thus binding not only the owner who grants the easement but all future owners as well.

Who should consider donating a preservation easement?

Anyone who has ownership of a historic property in the city of Nashville, particularly those are in areas with rapid development underway.

Are there benefits for the property owner donating an easement?

Yes! Aside from the satisfaction of contributing to Nashville’s preservation efforts, the property owner/donor receive a one-time charitable deduction on federal income tax for donation of preservation easement to Historic Nashville, Inc.

What determines the value of an easement?

The IRS suggests that easement can be appraised at roughly 10-15 percent of the property’s market value. For further guidance, a professional appraiser should be consulted. Historic Nashville will be happy to provide contact information for a qualified appraiser(s)

How much will the easement donation cost the owner?

Application Fee: $1000 base fee with scalable additions depending on the easement appraisal
Easement Legal Fee: $500 (subject to increase if the documentation and process become complicated)
Appraisal Estimate: Varies widely depending on the value of the easement

What limitations result from preservation easements?

Easements are tailored to meet the needs of the property owner and the building resource. The easement provides the owner with a flexible tool to preserve the property for future generations. The preservation easement agreement prohibits the owner from demolishing the building or altering the exterior (seen from the public right of way) without prior review and approval by Historic Nashville, Inc. Preservation easement agreements remain in effect for perpetuity.

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