There are many incentive programs that are offered on the federal, state and local levels that encourage investment in the rehabilitation and preservation of historic buildings. Many of these programs provide tax credits or grants that would go towards the rehabilitation of historic properties. For more information, please click the links below.
National Park Services - Technical Preservation Services - Tax Incentives: https://www.nps.gov/tps/tax-incentives.htm
The National Park Service offers a 20% income tax credit for the rehabilitation of historic, income-producing buildings that are determined by the Secretary of the Interior, through the National Park Service, to be “certified historic structures.” A 10% tax credit is available for the rehabilitation of non-historic buildings placed in service before 1936.
Maryland Historical Trust - https://mht.maryland.gov/taxcredits_homeowner.shtml
Homeowners have the opportunity to earn a state income tax credit equal to 20 percent of qualified rehabilitation expenditures. The credit is capped at $50,000 in a 24-month period and must have a minimum of $5,000 of eligible expenses to qualify.
Virginia Department of Historic Resources - https://www.dhr.virginia.gov/tax_credits/tax_credit.htm
Rehabilitation Tax Credits are dollar-for-dollar reductions in income tax liability for taxpayers who rehabilitate historic buildings. Credits are available from both the federal government and the State of Virginia. The amount of the credit is based on total rehabilitation costs. The federal credit is 20% of eligible rehabilitation expenses. The state credit is 25% of eligible rehabilitation expenses. In some cases, taxpayers can qualify under both programs, allowing them to claim credits of 45% of their eligible rehabilitation expenses.
Anne Arundel County, MD - http://www.aacounty.org/services-and-programs/historic-preservation-tax-...
The Historic Preservation Tax Credit establishes “Landmark” buildings and districts, and provides a property tax credit in the amount of 25% of qualified expenses for certain historic residential or income-producing properties.
Baltimore City, MD - https://chap.baltimorecity.gov/tax-credits
The program is a 10 year, comprehensive tax credit program that helps the City in its mission to preserve Baltimore's historic neighborhoods by encouraging property owners in historic districts to complete substantive rehabilitation projects. The 10-year credit is granted on the increased property value, resulting from the qualifying rehabilitation work.
Baltimore County, MD - https://www.baltimorecountymd.gov/Agencies/budfin/customerservice/taxpay...
Baltimore County encourages owners of historic properties to restore and rehabilitate their properties and to take full advantage of this and other property tax credits.
Frederick County, MD - https://frederickcountymd.gov/DocumentCenter/Home/View/13550
Local property tax credit for approved rehabilitation work is offered by Frederick County.
Howard County offers two types of local property tax incentives for work that restores or preserves an eligible historic property: A Historic Tax Credit for Qualified Expenses provides a tax credit equal to 25% of the cost of eligible work. A Historic Tax Credit for Increase in Assessed Value abates the increase in property tax that would result from increased assessed value due to the restoration work done, as determined by the State Department of Assessments and Taxation.
Montgomery County, MD - http://montgomeryplanning.org/planning/historic/tax-credit-program/
Owners of property listed in the Montgomery County Master Plan for Historic Preservation are eligible to receive a credit for documented expenses for exterior maintenance, restoration or preservation work. The tax credit is applied towards County real property taxes.
Prince Georges County, MD - http://www.pgparks.com/495/Tax-Credits
The Prince George’s County Historic Preservation Commission is empowered to grant preservation tax credit for the restoration and preservation of structures classified as Historic Sites or Historic Districts inthe Adopted and Approved Historic Sites and Districts Plan of Prince George’s County.
Washington County, MD - http://washingtoncountyhistoricaltrust.org/saving-places/tax-credit-prog...
This tax credit may be granted against the amount of County real property taxes, based upon the amount expended by a taxpayer for restoration or preservation of an historic property.