California Offering New Tax Credits To Rehabilitate Historic Properties
Sacramento, CA — The State of California is offering new incentives to help bring fresh life to historic properties.
The California State Parks Office of Historic Preservation will start accepting applications early next year for a State Historic Rehabilitation Tax Credit Program. The goal is to maintain and restore historic buildings that link Californians to the past.
The tax credit program provides a 20% credit for qualified rehabilitation expenditures (or 25% credit if the structure meets specified criteria) for the rehabilitation of a certified historic structure or a qualified residence. A total of $50 million is allocated for the program and money will be dispersed on a first-come-first-served basis.
Applications, forms, and frequently asked questions, can be found by clicking here. The application period opens on January 6.
In preparation of the new program, virtual information sessions will be held on Tuesday, November 26, from noon-1pm, and Tuesday, December 3, from 5-6 pm.
To register for the November 26 session, click here, and for the December 3 session, click here.
