Historic Tax Credit Studies

The United States government provides federal tax credits for individuals and businesses which preserve or rehabilitate historical buildings according to certain standards. There are two types of tax credits offered by this program. The first is a credit offered to an individual or business that is involved in renovating income-producing buildings, both residential and non-residential. The second is made available to those involved in the rehabilitation of non-historical buildings in use before 1936. These buildings may not be used for residential purposes.

The first type of tax credit for historical buildings is a deduction at the rate of 20% of the costs associated with the rehabilitation of the building. This only applies to designated historical buildings. The second type of credit applies only to non-residential, non-historical buildings built before 1936 and is a deduction at the rate of 10% of the cost of renovation.

How ELB Consulting Can Help

ELB Consulting has years of professional experience in handling all stages of claiming historical tax credits from design review to preparation of applications for historical status to ensuring that you are getting the maximum amount of tax credits to which your building is entitled.

Contact ELB Consulting today to schedule a preliminary consultation regarding your historical building rehabilitation projects.