Federal Investment Tax Credits
One of the ways the federal government encourages the preservation of historic buildings is through federal tax laws that benefit qualifying historic preservation projects. A project may qualify for a 20-percent investment tax credit if:
- It involves rehabilitation of a certified historic building used for income-producing purposes;
- the rehabilitation work follows the Secretary of the Interior's Standards for Rehabilitation; and
- the project receives preliminary and final approval from the National Park Service.
Property owners, developers and architects must apply for the tax credit through the Minnesota SHPO and are encouraged to work with SHPO staff to ensure that appropriate rehabilitation measures are followed. The SHPO then passes its recommendations on to the NPS for approval.
A new fee schedule will be effective for the federal historic tax credit program beginning December 31, 2012. Find out more at the National Park Service's website.
Application forms and further information
- Other Financial Incentives
- Federal Preservation Tax Incentives
- Federal Preservation Tax Incentives - project status
- The IRS Connection
- Illustrated Guidelines to the Secretary of the Interior's Standards
Minnesota SHPO contact: Natascha Wiener, Senior Design Reviewer.