Downtown Greer, SC

Greer Station is the Central Business District of the City of Greer. As such, downtown buildings are applicable for the Greenville County Redevelopment Authority’s Façade Improvement Grant Program. This is a reimbursement grant program that provides up to $5,000 to finance exterior improvements to a commercial building. All projects must first be approved by the City of Greer’s Board of Architectural Review to insure adherence to downtown design guidelines and cohesion with the appearance of the downtown historic district.

Many buildings in Greer Station are on the National Historic Register or are contributing buildings to the Greer Downtown Historic District. This standing makes these buildings applicable for property tax incentives at several levels of government. The City of Greer’s Special Tax Assessment for the Rehabilitation of Historic Properties freezes the appraised value of the building, for tax purposes, at the pre-rehabilitated value for a period of 5-20 years as a function of rehabilitation costs and property value. The State of South Carolina’s State Historic Rehabilitation Tax Credit allows a percentage of the qualified rehabilitation expenditures, defined as those that qualify for the federal income tax credit, to be used as a credit against a combination of income taxes and license fees. The U.S. Department of the Interior’s Federal Historic Rehabilitation Tax credit allows for 20% of the qualifying expenses of your rehabilitation to be used as a credit against income taxes. In general, each dollar of tax credit earned reduces the amount of federal income taxes owed by one dollar.

Buildings in or around Greer Station that meet the standing “66% of which has been closed continuously or otherwise nonoperational for at least 5 years,” qualify for the state of South Carolina’s Abandoned Building Revitalization Act tax credit. This tax credit allows property owners that incur applicable rehabilitation expenses to earn credits that can be applied against income taxes for a period of 5 years or property taxes for a period up to 8 years.