The Historic Preservation Tax Incentives Program, jointly administered by the National Park Service and State Historic Preservation Officers, is the nation’s most effective Federal program to promote urban and rural revitalization and to encourage private investment in rehabilitating historic buildings.
The tax credit applies specifically to preserving income-producing historic properties and has generated over $20 billion in historic preservation activity since its inception in 1976. With a 5 to 1 ratio of private investment to federal tax credits, the program is an outstanding means of leveraging private investment in adaptive reuse and preservation of our nation’s historic buildings.
The tax incentives program attracts private investment to historic cores of cities and towns and generates jobs, enhances property values, creates affordable housing and augments revenues for Federal, State and local governments.