Preservation Tax Incentive Programs

Both the Federal and State Government tax laws offer a unique incentive to taxpayers who contribute to the preservation of this nation's old and historic buildings. By rehabilitating directly or investing in the rehabilitation of eligible buildings, taxpayers can take advantage of a two-tier tax credit.

Income producing structures may qualify for up to a 40% tax credit while residential structures can receive up to a 30% tax credit. Projects must go through a 3-part "Historic Preservation Certification Application" process at the state and federal levels, the State Historic Preservation Office and the National Park Service.

Who may apply? Owners of potential "certified historic structures" or lessees of potential "certified historic structures" with a lease term of 27.5 years for residential property and 39 years for non-residential property. Generally, only buildings listed individually in the National Register of Historic Places or potentially eligible to be listed or buildings located within a "registered Historic district are eligible.

For more information about this valuable incentive, please visit the NC State Historic Preservation office web site at: www.hpo.dcr.state.nc.us and find an icon in the bottom right-hand corner titled tax credit information. To request an application, you will need to e-mail one of these staff persons to request one be mailed to yu. Several local investors have successfully completed tax credit applications and programs and we would be happyFor to put you in contact with them to help answer any additional questions you may have. For more information you may also visit www.ntcicfunds.com.