Qualified Rehabilitation Expenditures

Qualified Rehabilitation Expenditures (QREs) refer to eligible costs associated with the renovation or restoration of historic buildings. These costs typically include expenses for materials, labor, and certain fees necessary to maintain the building's historic character while upgrading its functionality. The goal is to preserve the building and adhere to specific guidelines set by the government. When these expenditures meet criteria outlined in tax laws, they can provide tax incentives for property owners, encouraging the preservation of historic sites and promoting responsible development within communities.