Texas Historic Preservation Tax Credit Program
A new state historic tax credit program went into effect at the beginning of this year called the Texas Historic Preservation Tax Credit Program. The program awards a 25% credit toward eligible rehabilitation costs and is available for buildings listed in the National Register of Historic Places, as well as Recorded Texas Historic Landmarks and Texas State Antiquities Landmarks. The program is administered jointly by the Texas Historical Commission (THC) in cooperation with the Texas Comptroller of Public Accounts.
THC has posted a list of all the criteria on their website that a project must meet in order to be eligible for the tax credit. You can see the list as well as get more information about the program by following the link below:
Hopefully, this new state program along with the 20% Federal Historic Preservation tax incentive can persuade more business owners, developers, homeowners and architects to invest more into restoring and repurposing older buildings throughout the state. If you are thinking of applying for one or both of these tax credits and need help with the application process or need architectural services related to restoration work, please feel free to contact us and we'll be happy to walk you through it.