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The Historic Tax Credit (HTC) is the federal tax credit program that incentivizes the rehabilitation of historic buildings. The HTC, which has rehabilitated more than 38,700 buildings and leveraged about $106 billion in private investment nationwide, is in danger of being eliminated in current budget-balancing discussions in Congress. [34]
Until 1976 tax incentives were virtually non-existent for buildings on the National Register. Before 1976 the federal tax code favored new construction over the reuse of existing, sometimes historical, structures. [5] After 1976 the tax code was altered to provide tax incentives which promote preservation of income-producing historic properties.
Combining state and/or federal historic tax credits with the federal New Markets Tax Credit is also a possibility if the project is located in a low-income census tract. Syndicating historic tax credits can be a significant advantage for developers, especially those who do not have sufficient tax liability to claim the tax credits themselves ...
In total, 56 buildings will benefit from the $67.5 million in tax credits. Receiving $250,000 in tax credits is the approximate $4.2 million rehabilitation of the Hotel Swisher at 117 to 119 E ...
Gov. Mike DeWine announced more than $67 million in tax credits to rehab historic buildings across the state.
The latest plans for the building at 44 E. Exchange St. include nearly 200 residential units and office, retail and restaurant space. State approves $5.36M historic preservation tax credit for ...
Save America's Treasures is a United States federal government initiative to preserve and protect historic buildings, arts, and published works. It is a public–private partnership between the U.S. National Park Service and the National Trust for Historic Preservation.
Senate committee backs away from abolishing film and historic preservation tax credit. House reduces list of new taxable services from 40 to 19.