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.
Now that I’m member, how can I contribute more?
Donate, be it your finances or your time or your talents. HNI is 100% volunteer organization funded 100% by charitable contributions.
FAQ – Easements
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.
