Historic tax credit program

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Historic tax credit program

  1. 1. Historic Tax Credit Program
  2. 2. Tax Credits & Historic Preservation     How can historic tax credits benefit your community? How does the tax credit program work? Who is eligible? Demonstration through case study
  3. 3. Tax Credit Benefits Encourages the rehabilitation of historic buildings in your town.  Historic tax credits may significantly help with the revitalization of your Main Street Commercial District.  Gives your community a sense of place. 
  4. 4. How the program works A tax credit lowers the amount of tax owed  The federal tax credit incentives program offers a 20% rehabilitation tax credit equal to 20% of the amount spent in a certified rehab of a certified historic structure AND A 10% rehab tax credit equal to 10% of the amount spent to rehabilitate a non-historic building built before 1936 
  5. 5. Who is eligible?    Owners of certified or non-historic buildings that are income producing A certified structure is a building that is listed in the National Register of Historic Places (individually or contributing property in historic district). A non-historic building is a structure that is not National Register eligible and built before 1936.
  6. 6. Lindsay Street Hall (First Congregational Church)
  7. 7. Lindsay Street Hall
  8. 8. Post Restoration Work (Exterior)
  9. 9. Post Restoration (Interior)
  10. 10. Post Restoration (interior)
  11. 11. Project Cost/Tax Credits    Project cost for restoration: Tax Credits Received: Lindsay Street Hall hosts special events: rehearsal dinners, weddings, business events, fundraising events, music events

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