Federal Historic Tax Credit

The Federal Historic Tax Credit (HTC) is a financial incentive offered by the U.S. government to encourage the preservation and rehabilitation of historic buildings. Property owners can receive a tax credit equal to a percentage (usually 20%) of their eligible rehabilitation expenses. This means that if they invest in restoring a historic property, they can reduce their taxes accordingly. The goal is to promote the conservation of historic sites, enhance community development, and stimulate local economies by ensuring that older, historically significant structures are maintained and reused rather than demolished.