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.