• Skip to main content
  • Skip to footer
CARW
414.271.2021[email protected]

  • About
    • About CARW
    • Board Of Directors
    • Past Chairmen
  • Membership
    • CARW Membership
    • Become A Sponsor
    • CARW Sponsors
    • CARW Affiliates
    • NextGen
    • Commercial Resources
    • Legal Hotline
  • Advocacy
    • Direct Givers Conduit
    • RPAC
    • Out of State License (OSL)
  • Education
    • REALTOR Continuing Education
    • Designations
    • REALTOR Requirements
  • CARW News
    • CARW Newsletter Archives
  • CARW Exchange
    • About CARW Exchange
    • Join CARW Exchange
    • List A Property
    • Catylist Login

FOLLOW US Yo

CARW

The Commercial Association of REALTORS Wisconsin

  • About
    • Who We Are
    • Board of Directors
    • Past Chairman
    • Sponsors
    • CARW Foundation
    • Contact Us
    • WRA
    • NAR
  • Get Involved
    • Advocacy
      • CARW Advocacy
      • RPAC
      • Direct Givers Conduit
      • Out of State License
    • Education
      • Continuing Education
      • Designations
      • Obtain WI A License
      • REALTOR Requirements
    • Networking
      • Events
      • NextGen
      • CARW Committees
      • Become a Sponsor
    • Data
      • Catylist Data Exchange
      • Join Catylist
  • Membership
    • About CARW Membership
    • Benefits & Discounts
    • Member Directory (log-in required)
    • Member Spotlight
    • JOIN NOW
  • Resources
    • Obtain WI A License
    • Careers in Commercial Real Estate
    • CARW Member Resources
      • CARW Newsletter Archives
      • Commercial Resources
      • Ethics & Arbitration
      • FAQs
      • Out of State License (OSL)
      • Job Postings in Commercial Real Estate
      • Opening a Firm or Changing Firms
      • Tech Tools for CRE
      • WEDC Main Street Bounceback Grant
      • ZipForms
    • CARW Podcast: The Take
    • Find a Broker
  • News & Events
    • Events
      • All Events
      • Marquee Events
      • Continuing Education
      • Networking
    • News
      • All CARW News
      • Member News
      • Advocacy
  • Catylist Data Exchange
    • Catylist Login
    • Leadership
    • Market Reports
    • Property Search
    • Catylist Sign Up
    • Resources | Tips
  • About
    • Who We Are
    • Board of Directors
    • Past Chairman
    • Sponsors
    • CARW Foundation
    • Contact Us
    • WRA
    • NAR
  • Get Involved
    • Advocacy
      • CARW Advocacy
      • RPAC
      • Direct Givers Conduit
      • Out of State License
    • Education
      • Continuing Education
      • Designations
      • Obtain WI A License
      • REALTOR Requirements
    • Networking
      • Events
      • NextGen
      • CARW Committees
      • Become a Sponsor
    • Data
      • Catylist Data Exchange
      • Join Catylist
  • Membership
    • About CARW Membership
    • Benefits & Discounts
    • Member Directory (log-in required)
    • Member Spotlight
    • JOIN NOW
  • Resources
    • Obtain WI A License
    • Careers in Commercial Real Estate
    • CARW Member Resources
      • CARW Newsletter Archives
      • Commercial Resources
      • Ethics & Arbitration
      • FAQs
      • Out of State License (OSL)
      • Job Postings in Commercial Real Estate
      • Opening a Firm or Changing Firms
      • Tech Tools for CRE
      • WEDC Main Street Bounceback Grant
      • ZipForms
    • CARW Podcast: The Take
    • Find a Broker
  • News & Events
    • Events
      • All Events
      • Marquee Events
      • Continuing Education
      • Networking
    • News
      • All CARW News
      • Member News
      • Advocacy
  • Catylist Data Exchange
    • Catylist Login
    • Leadership
    • Market Reports
    • Property Search
    • Catylist Sign Up
    • Resources | Tips
  • facebook
  • twitter
  • instagram

Tax Incentives for Preserving Historic Properties

September 12, 2017 by Amanda Hoffman

State of Wisconsin Historic Tax Credit legislation is nearly to the Governor’s desk.  Your advocacy efforts encouraged members of Joint Finance to remove the Governor’s program cap, while including a $5 million / per project cap beginning in July 2018.  If this holds, it will certainly be considered a victory for the HTC program in Wisconsin, which was in danger of being capped, thus harming the ability for many projects to be completed throughout the State.  At the same time, changes to the Federal Historic Preservation Tax Incentives are being considered as part of tax reform.  While we do not believe there will be many changes at the federal level, we continue to work with our NAR lobby team to engage them with local resources who are well-equipped to give data driven rationale htc graphic 2017for continuation of the program.

About the Federal Historic Preservation Tax Program:
The Federal Historic Preservation Tax Incentives program encourages private sector investment in the rehabilitation and re-use of historic buildings. It creates jobs and is one of the nation’s most successful and cost-effective community revitalization programs. It has leveraged over $84 billion in private investment to preserve 42,293 historic properties since 1976. The National Park Service and the Internal Revenue Service administer the program in partnership with State Historic Preservation Offices.

20% Tax Credit

A 20% income tax credit is available 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.” The State Historic Preservation Offices and the National Park Service review the rehabilitation work to ensure that it complies with the Secretary’s Standards for Rehabilitation. The Internal Revenue Service defines qualified rehabilitation expenses on which the credit may be taken. Owner-occupied residential properties do not qualify for the federal rehabilitation tax credit. Learn more about this credit before you apply.

Each year, Technical Preservation Services approves approximately 1200 projects, leveraging nearly $6 billion annually in private investment in the rehabilitation of historic buildings across the country. Learn more about this credit in Historic Preservation Tax Incentives.

10% Tax Credit

The 10% tax credit is available for the rehabilitation of non-historic buildings placed in service before 1936. The building must be rehabilitated for non-residential use. In order to qualify for the tax credit, the rehabilitation must meet three criteria: at least 50% of the existing external walls must remain in place as external walls, at least 75% of the existing external walls must remain in place as either external or internal walls, and at least 75% of the internal structural framework must remain in place. There is no formal review process for rehabilitations of non-historic buildings. Learn more about this credit in Historic Preservation Tax Incentives.

Tax Benefits for Historic Preservation Easements

A historic preservation easement is a voluntary legal agreement, typically in the form of a deed, that permanently protects an historic property. Through the easement, a property owner places restrictions on the development of or changes to the historic property, then transfers these restrictions to a preservation or conservation organization. A historic property owner who donates an easement may be eligible for tax benefits, such as a Federal income tax deduction. Easement rules are complex, so property owners interested in the potential tax benefits of an easement donation should consult with their accountant or tax attorney. Learn more about easements in Easements to Protect Historic Properties: A Useful Historic Preservation Tool with Potential Tax Benefits.

NPS

Filed Under: News

Footer

Newsletter

Stay current on news, events, and classes.

  • Find a Broker
  • Latest News
  • Events
  • Join CARW
  • Pay Dues
  • Exchange Login
  • Advocacy
  • Education
  • Contact Us

250 E. Wisconsin Ave, Suite 725
Milwaukee, Wisconsin 53202
414.271.2021
[email protected]

©2023 Commercial Association of REALTORS® Wisconsin.
All rights reserved.
NAR Diamond 2023 NAR CSA Logo
Website by