Tax Credits

80 Cone StreetCONNECTICUT HISTORIC HOME REHABILITATION TAX CREDIT PROGRAM
Provides financial assistance to individual homeowners and local non-profit Community Housing Development Corporations to rehabilitate properties (1 – 4 residential units).

DCFC0017.JPGCONNECTICUT HISTORIC REHABILITATION TAX CREDIT
Allows tax credits for qualified rehabilitation and restoration expenditures for historic residential buildings with five or more units, nonresidential buildings and mixed use buildings.

 

FEDERAL HISTORIC PRESERVATION TAX INCENTIVE PROGRAM35. 5 Constitution Plaza reszied
Governed by the National Park Service and provides tax credits for the rehabilitation of income-producing properties listed on the National Register of Historic Places..read more

Program Highlights

  • Applications are filed the CT Department of Economic and Community Development, State Historic Preservation Office, which conducts a preliminary review. Applications are then forwarded to the National Park Service for a final determination on certification.
  • Building must be listed on the National Register of Historic Places.
  • Tax credit of 20% of total qualified rehabilitation expenditures.
  • All projects must meet the Internal Revenue Service’s definition of substantial .
  • Credits can only be used by individuals or business firms that have ownership standing in the property.
  • Credits can be claimed for the year in which the building was placed in service.
  • Rehabilitated property is depreciated over 27.5 years for residential property and over 39 years for non-residential property.

For more program details, visit the CT Department of Economic and Community Development website or contact Julie Carmelich at 860.500.2362 or email julie.carmelich@ct.gov.