Federal tax law offers a 20% tax credit for the rehabilitation of historic buildings, and a 10% tax credit for the rehabilitation of non-historic buildings built before 1936. The credits are dollar-for-dollar reductions of taxes owed. The 20% rehabilitation investment tax credit equals 20% of qualified expenditures in a certified rehabilitation of a certified historic structure. The 10% rehabilitation investment tax credit equals 10% of qualified expenditures for rehabilitation of a non-historic building built before 1936. For both credits, the building must be depreciable and the rehabilitation must be substantial. Click here for a link to the Federal Historic Preservation Tax Incentives Home Page.
Application and Instructions
Applications for the 20% rehabilitation investment tax credit are submitted through the Ohio Historic Preservation Office to the National Park Service. Our office provides assistance to owners and architects as they plan rehabilitation projects and as they prepare their applications. This is a link to the National Park Service pages where you can see an online version of the tax credit application.
Prepared by the IRS for the National Park Service, this link provides you with information and guidance information and guidance on the tax aspects of utilizing the credit and rehabilitation tax credit law provisions. This is a link to the Department of Interior regulations that govern the Rehabilitation Tax Credit Program: 36 CFR 67, Historic Preservation Certifications, Pursuant to Section 48(g) and Section 170(h) of The Internal Revenue Code of 1986.
Click here to go to the Ohio Historic Preservation Office front page.
Click here for information about State Tax Incentives in Ohio.