Tax Incentives for Historic Preservation

Tax incentives for historic preservation are financial benefits offered by the government to encourage the upkeep and restoration of historic buildings. These incentives typically come as tax credits or deductions, reducing the amount of tax owed by property owners who preserve their historic structures according to specific standards. By providing these benefits, governments promote cultural heritage, support local economies through increased tourism and job creation, and help maintain the unique character of communities. Essentially, these incentives make it more affordable for property owners to invest in preserving historic buildings rather than demolishing or neglecting them.