Federal, state, and local tax incentives exist for owners of historic properties. The Federal Historic Preservation Tax Incentives Program includes a 20 percent income tax credit for the rehabilitation of historic, income-producing buildings.The new Texas Historic Preservation Tax Credit Program offers a 25 percent tax credit for the rehabilitation of historic buildings.
Additionally, a state sales tax exemption on labor is available for work to buildings listed in the National Register of Historic Places. County and local taxing authorities may grant property tax exemptions for buildings with state or local historical designations.
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Our Report on Historic Preservation Tax Credits in Texas highlights the economic impact of the 243 projects certified for the Texas Historic Preservation Tax Credit between January 1, 2015 through August 31, 2020. These projects have not only preserved Texas’ historic buildings, but have also supported jobs and boosted our state and local economies. The report showcases many of these tax credit rehabilitation projects in several categories, including places of worship, hotels, industrial buildings, cultural nonprofits, rural downtowns, residential, and universities.
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Facts
45
The number of Texas communities with certified state tax credit projects as of 2020
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