Federal Tax Incentive
Federal Tax Incentive supports owners rehabilitating historic, income-producing buildings, funding interior and exterior work that preserves historic character while making new uses possible.
Funder: South Dakota State Historical Society
Due Dates: No calendar deadline listed; apply before project completion
Funding Amounts: 20% federal income tax credit on certified rehabilitation expenditures
Summary: A federal tax credit encourages rehabilitation of historic income-producing buildings for new use while preserving their historic character.
Key Information: Private residences do not qualify, and rehabilitation spending must exceed the greater of the building’s adjusted basis or $5,000.
Description
The Federal Tax Incentive is a historic preservation income tax credit administered by the National Park Service (NPS) and listed by the South Dakota State Historical Society among its preservation funding opportunities. It encourages owners to rehabilitate historic, income-producing buildings for new use without losing the features that give them historic character.
The credit is tied to certified rehabilitation expenditures, rather than the purchase price of a building. Both interior and exterior work may qualify when the project meets the Secretary of the Interior’s Standards for Rehabilitation. The Society’s State Historic Preservation Office (SHPO) provides applications and assistance to property owners considering the program.
