Court Ruling Means Broader Eligibility for Historic Tax Credits!

If you are an owner of an income producing historic building and you’re undertaking a “substantial rehabilitation” of that building, you may qualify for a Historic Rehabilitation Tax Credit (HTC). The HTC is a federal income tax credit equal to 10-20% of “qualified rehabilitation expenditures”. Buildings that qualify for this tax credit include:

  • 10% Tax Credit: buildings that were first placed in service before 1936.
  • 20% Tax Credit: buildings that are either individually listed on the National Register of Historic Places or determined to contribute to the historic significance of a historic district that is listed on the register.

Click Here for an overview of the HTC program and the recent court ruling that these authors expect, “to break open the historic tax credit equity markets”.