Federal Historic Tax Credit

Preservation & the Historic Tax Credit

After more than five years of consistent advocacy the 20 percent historic tax credit has survived the most significant rewrite of the tax code in more than 30 years. Congress has confirmed once again that incentivizing the rehabilitation of our historic buildings makes good economic sense.   

The federal Historic Tax Credit (HTC) was created in 1978 as an incentive to catalyze economic development through the restoration and reuse of America’s historic buildings. Since its inception, the HTC has been a widely used redevelopment tool, helping revitalize cities, towns and rural communities all across the country and to date has rehabilitated more than 42,000 buildings.

A Determined Advocacy Preserves the Historic Tax Credit!

The preservation of the federal historic tax credit is the culmination of years of determination and advocacy by the preservation community. 

 

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Economic Impact of the Federal Historic Tax Credit

2016 Rutgers Report

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Ronald Reagan and the Historic Tax Credit

Without this critical financing incentive, so much opportunity to retain, restore, and reuse the old and historic buildings in our communities will be lost. Take it from no less a source than Ronald Reagan himself. On September 18, 1984, three years after signing the credit expansion into law, President Reagan addressed the National Conference on Revitalization of America’s Towns in a taped message. He emphasized the many benefits the HTC offers our communities—the same reasons we need to save it now.

Video: Catalyst for Change