Historic Preservation Tax Credit

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The Historic Preservation Tax Credit is a series of programs offered by the United States government and the State of Alabama to support the preservation and adaptive re-use of historic structures.

The federal program allows owners to claim a tax credit of up to 20% of qualifying expenses toward the rehabilitation of a National Register of Historic Places-listed property for income-producing purposes. The work must be performed according to the Secretary of the Interior's Standards for Rehabilitation. The program is administered by the National Park Service and the Internal Revenue Service in partnership with the Alabama Historical Commission.

Alabama's Historic Preservation Tax Credit was instituted in 2013. It allows for a a credit of 25% of rehabilitation expenses for income-producing or residential purposes for certified historic structures, or a 10% credit for buildings constructed before 1936 which are not certified as historic. The state allows any NRHP listed building, any building identified as a contributing structure in an NRHP listed historic district, and any building which is eligible for such a listing to be certified. Qualifying projects must meet a threshold of $25,000 or 50% of the purchase price for the property to qualify, and the work must be done according to the Secretary of the Interior's Standards for Rehabilitation. Commercial project credits are capped at $5,000,000 and residential projects at $50,000. The program itself is limited to $20,000,000 in total tax credits per fiscal year. The credit can be applied over ten consecutive tax years after certification.

Federal tax credit projects

Birmingham

Bessemer

See also