HISTORIC PRESERVATION TAX CREDITS

The Historic Tax Credit encourages private investment to revitalize often abandoned and underperforming historic properties, creating jobs and boosting neglected areas. The credit benefits local communities, especially in our nation’s urban core and rural areas. Thirty-four states have enacted individual state Historic Tax Credit programs that work in tandem with the federal program.

For example, the Georgia State Income Tax Credit Program for Rehabilitated Historic Property allows eligible participants to apply for a state income tax credit equaling 25 percent of qualifying rehabilitation expenses capped at $100,000 for a personal residence, and $300,000, $5 million, or $10 million for all other properties.