Tax Credits

The federal government and several states offer an Investment Tax Credit for the rehabilitation of designated historic properties. The following federal credits are available for income-producing buildings: a 20% tax credit for certfied rehabilitation of certified historic buildings, or a 10% tax credit for rehabilitation of non-historic, non-residential buildings constructed before 1936.

Several states offer tax credits for the rehabilitation of both residentitial and income-producing buildings. The states vary on their requirements for certification of the buildings - in Colorado, the buildings can be either locally or federally designated. In Missouri and Kansas, the buildings must be on the National Register.

Three Gables can help property owners through the certification and application processes required for the various rehabilitation tax incentives. At the President Gardens complex in Kansas City, Missouri, Three Gables prepared the National Register nomination which made the thirty-six WWII era apartments eligible for the credit; guided the property owners through the rehabilitation issues; and completed the federal application forms, resulting in a tax credit of over xxxx.