Federal Historic Tax Credit

Preservation & the Historic Tax Credit

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.

Despite a proven track record of stimulating economic growth and preserving our architectural heritage, however, the historic tax credit faces an uncertain future. As pressure builds to reform the nation’s tax code, several influential tax reform proposals recommend a repeal of this essential credit.

A Critical Moment to Protect the Historic Tax Credit: Act Now

Contact your member of Congress today and ask them to support the Federal Historic Tax Credit today. 

ACT NOW

Economic Impact of the Federal Historic Tax Credit

Key Statistics:

According to the Annual Report on the Economic Impact of the Federal Historic Tax Credit for 2016, recently released by Rutgers University and the National Park Service, between 1978 and 2016, the HTC has contributed to:

1. More than 42,000 buildings being restored;
2. More than $130 billion in private capital being reinvested in our communities;
3. Nearly 2.5 million jobs being created; and
4. An average of $1.20 being returned to the Treasury for every dollar invested.

A Critical Moment in Our Fight to Protect 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