By R. Kymn Harp
June 2025
Efforts to preserve the historical heritage of the United States have been ongoing for more than 200 years. The National Historic Preservation Act of 1966, which created the National Register of Historic Places (“National Register”), formalized a national policy of preserving historic properties.
In 1976 Congress for the first time provided tax incentives for rehabilitation of historic buildings by allowing a tax deduction for certain expenditures to rehabilitate buildings listed in the National Register. In 1978 Congress enhanced the incentive by adopting a 10% historic preservation tax credit (F-HTC).
A tax credit is a direct dollar-for-dollar reduction in taxes owed, making it significantly more robust than a tax deduction which serves to reduce taxable income.
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