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Historic Preservation<br />

Federal Income Tax Credit<br />

• 20% <strong>of</strong> qualifying rehab expenses with no<br />

maximum cap, as a federal income tax credit<br />

• Rehabilitation cost must exceed the adjusted<br />

basis <strong>of</strong> the property (the value <strong>of</strong> the building<br />

minus the land) by 100%<br />

• The property must be income producing, not a<br />

personal residence. Residential rentals do<br />

qualify.<br />

24

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