Historic Rehabilitation Tax Incentives

Substantial rehabilitations of properties listed in the National Register of Historic Places are eligible for historic tax credits and incentives. These incentives were established to help off-set the costs associated with a project that preserves historic materials using the industry’s best practices, complying with the Secretary of the Interior’s Standards and Guidelines for Rehabilitation. A federal income tax credit equal to 20% of the qualified rehabilitation expenses are available to property owners who undergo rehabs of income-producing properties. Some states and local jurisdictions offer additional incentives. Georgia offers a 25% income tax credit (with credit caps) which is applicable

to private home owners and income-producing properties and a property tax freeze for 8.5 years. South Carolina and North Carolina both offer similar programs with a 10%-25% state credit. The City of Jacksonville offers a property tax exemption for locally designated properties undergoing significant rehabilitations. Ward Architecture + Preservation has successfully completed dozens of historic tax credit applications resulting in the award of 100s of 1000s of dollars to property owners both through credits and syndication. These projects result in the preservation of significant properties that might not be financially feasible otherwise.