Support for the renovation of residential houses or historic buildings can also be obtained with a tax credit

The currently valid binding regulations state that a building cannot qualify for municipal co-financing for the renovation or preservation of residential houses or historic buildings, if even one owner has a real estate tax debt that exceeds 50 euros. The Environmentally Degrading Constructions Commission, which is the responsible institution in the municipality for co-financing allocation procedures, does not consider such project applications. In the future, the commission will have to consider such submissions and evaluate the projects, but the amount of co-financing will be reduced in proportion to the debtor’s supposed share in the property. With the aim of motivating the co-owners of multi-apartment residential buildings to be more actively involved in the preservation of the cultural and historical building heritage, the Riga City Council provides up to 30,000 euros depending on the number of apartments in the renovated residential building, and also increased the maximum amount of co-financing.

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