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Federal Investment Tax Credit of 10% or 20% of rehabilitation costs:
- 20% credit is applicable to historical structures listed or eligible for listing in the National Register of Historic Places and certified for conformance with the Secretary of the Interior's Standard's for Rehabilitation by the National Park Service.
- 10% credit is applicable to non-certified structures built before 1936. To claim 10% credit, the building must be income-producing but cannot be used as a residential property.
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Rehabilitation of income producing historic structures and revitalization of historic neighborhoods.
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Only income producing properties in need of substantial rehabilitation are eligible.
Building must be depreciable.
Owner must hold onto building for at least 5 years or else pay back all or a prorated portion of the tax credit claim.
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Scot Walters
Kentucky Heritage Council
300 Washington Street
Frankfort, Kentucky 40601
(502) 564-7005 ext.141
(502) 564-5820 (fax)
scot.walters@ky.gov
http://www.heritage.ky.gov
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Last updated: 5/7/2009 4:32:49 PM