YouTube video: Historic Preservation Tax Credits
I thought this was a good overview of Historic Tax Preservation Credits. It did not provide a lot of detail so I'll need to find that information elsewhere. They repeatedly gave the advice to use a consultant or expert, which I agreed with for beginners. The video mentioned state and local incentives, which I will explore further in the following article about the City of Dallas credits.
Article: Historic Preservation Tax Incentive Program - City of Dallas
http://dallascityhall.com/development_services/pdf/TaxIncentiveInformationPacket.pdf
This is the official document from the City of Dallas that discusses incentives for developers and owner who meet certain criteria to earn tax credits by improving historic buildings in the City of Dallas. It's important to note that this is totally different than the Federal Tax Credits listed above and these incentives apply only to City taxes. If one of was knowledgable in historic tax credits, it seems feasible that they could concurrently take advantage of several differnt programs that incentivize historic preservation.
Article: An Overview of Opportunities in the the Federal Historic Preservation Tax Credits Program
https://www.americanbar.org/newsletter/publications/law_trends_news_practice_area_e_newsletter_home/preservationtaxcred.html
This law blog publication goes over some of the finer points of the preservation tax credit rules. For example, it explains that the owner must be entitled for five years after claiming the tax credits. Also, it explains that all tax credits must be for properties that are income producing/
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