Federal Historic Preservation Tax Incentives
- A federal tax incentive that promotes the rehabilitation of historic structures of every period, size, style and type. The National Park Service administers the program with the Internal Revenue Service in partnership with State Historic Preservation Offices.
Through this program, abandoned or under used schools, warehouses, factories, churches, retail stores, apartments, hotels, houses, and offices throughout the country have been restored to life in a manner that maintains their historic character. Current tax incentives for preservation, established by the Tax Reform Act of 1986 (PL 99-514; Internal Revenue Code Section 47 [formerly Section 48(g)]) include:
* 20% tax credit for the certified rehabilitation of certified historic structures.
* a 10% tax credit for the rehabilitation of non-historic, non-residential buildings built before 1936.
For more detailed information, including copies of application forms, regulations, and other program information, contact the State Historic Preservation Office for the state in which the project is located. [Source: National Park Service, Historic Preservation Tax Incentives: http://www.nps.gov/history/HPS/tps/tax/brochure1.htm#intro]