Real Estate and Building Development


Historic Preservation Tax Credit

Any building owner rehabilitating a certified historic structure for nonresidential use or both residential and nonresidential use can receive a tax credit equal to the lesser of the two: 25% of the projected qualified rehabilitation expenditures or 25% of the actual qualified rehabilitation expenditures. If affordable housing is created (and is compliant with the affordable housing certificate) then the tax credit rises to 30%. Read more about the tax credit and what rehabilitation expenditures are qualified towards the credit here.

Historic Structures Rehabilitation Tax Credit

Any owner who is rehabilitating a certified historic structure for residential use can receive a tax credit equal to the lesser of the tax credit reserved upon certification of the rehabilitation certification of the rehabilitation of the plan or 25% of the actual qualified rehabilitation expenditures not exceeding $2.7 million. Read more about this tax credit and what qualifies as qualified rehabilitation expenditures here.

Donation of Land Tax Credits

Any donation of open space land or land for educational use will receive a tax credit equal to 50% of the value of any donated land.