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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]
For example, the City of Pasadena Historic Property Contract Program was established by ordinance in October 2002 under the authority of the Mills Act (California Government Code, Article 12, Sections 50280-50290). Under this act, local governments may enter into historic property contracts with owners of qualifying privately owned historic ...
In 1976, the tax code was altered to provide tax incentives that promote the preservation of income-producing historic properties. The National Park Service was given the responsibility to ensure that only rehabilitations that preserved the historic character of a building would qualify for federal tax incentives.
A contributing property, such as a 19th-century mansion, helps make a historic district historic, while a non-contributing property, such as a modern medical clinic, does not. The contributing properties are key to a historic district's historic associations, historic architectural qualities, or archaeological qualities. A property can change ...
Clockwise from bottom left: a site, a building, a structure and an object. All are examples of National Register of Historic Places property types. The U.S. National Register of Historic Places (NRHP) classifies its listings by various types of properties. Listed properties generally fall into one of five categories, though there are special ...
The Historic Preservation Fund is not funded through tax revenue. Rather, it is funded by royalties accumulated by the Office of Natural Resources Revenue through payments, rentals, bonuses, fines, penalties, and other revenue from the leasing and production of natural resources from federal and Indian lands onshore and in the Outer Continental Shelf. [6]
Restoration of Historic Buildings. Restoration of historic buildings varies from country to country, just as with cultural heritage sites and other building restoration projects. Before any work is done on a historic building, conservator-restorers should consult local requirements. Best practices listed above still apply.
The following are approximate tallies of current listings in California on the National Register of Historic Places. These counts are based on entries in the National Register Information Database as of April 24, 2008, [ 1 ] and new weekly listings posted since then on the National Register of Historic Places web site. [ 2 ]