Federal Tax Incentives for Rehabilitating Historic Buildings
Since 1976, the federal government has used the Historic Preservation Tax Incentives Program to promote community revitalization through private investment in preserving income-producing historic buildings. According to the National Park Service, the Program, which uses a 5 to 1 private investment to federal tax credit ratio to incentivize the rehabilitation of qualifying historic buildings, has generated over $50 billion in historic preservation activity. The National Park Service’s “Federal Tax Incentives for Rehabilitating Historic Buildings: Annual Report for Fiscal Year 2008” provides an overview of the Program as well as information regarding projects approved in 2008.
