State and Federal Historic Tax Credits
Category: Local Incentives, Tax Credits
Federal and state income tax credits are available for certified historic rehabilitation projects. Buildings must be listed in the National Register of Historic Places, all work must meet national historic preservation standards, and a multi-part application must be completed and approved by the State Historic Preservation Office (SHPO) and National Park Service (NPS). Federal income tax credits are equal to 20% of qualified project expenses, and state income tax credits are equal to a matching 20% of qualified project expenses. For more information: https://www.nps.gov/tps/tax-incentives.htm and https://mn.gov/admin/shpo/incentives/state/