Historic Tax Credits Work
Historic tax credit projects increase property values, draw new businesses, attract new residents, and enlarge the tax base.
Over the life of the program, the historic tax credit (HTC) has preserved more than 44,000 historic buildings.
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For more than three decades, the federal Historic Tax Credit (HTC) has successfully implemented a national policy of preserving our historic resources. It is the most significant investment the federal government makes toward the preservation of our historic buildings.
In addition to preserving historic buildings, the HTC revitalizes communities and spurs economic growth—all while returning more to the Treasury than it costs, $1.20 in tax revenue for every dollar invested. It is a critical ingredient for historic preservation building stronger communities.
The Annual Report on the Economic Impact of the Federal Historic Tax Credit for FY 2017, produced by the National Park Service and Rutgers University, demonstrates the benefits of investment in HTC-related historic rehabilitation projects are extensive, increasing payrolls and production in nearly all sectors of the nation’s economy. And, research from 2014 shows that the benefits of historic rehab go far beyond one building—historic tax credit projects spur an increase in property values, draw new businesses, attract new residents, and enlarge the tax base.
National Trust Community Investment Corporation (NTCIC)
In 2000, the National Trust for Historic Preservation created the National Trust Community Investment Corporation (NTCIC) to support the historic preservation movement through direct investments. Since then, NTCIC has become one of the largest tax credit investors and syndicators in America.
The organization supports the country's architectural heritage, community development, and renewable energy initiatives through the provision and investment of Federal and State Historic Tax Credits, as well as Renewable Energy and New Markets Tax Credits.
Since its inception, NTCIC has provided over $1.6 billion in capital to more than 200 catalytic tax credit investments nationwide. Learn more about how NTCIC works with Historic Tax Credits.
Fast Facts about the Historic Tax Credit
Over the life of the program, the historic rehabilitation tax credit (HTC) has:
- created more than 2.5 million good-paying local jobs;
- leveraged $144.6 billion in private investment in our communities;
- used $27.5 billion in tax credits to generate more than $32.4 billion in federal tax revenue;
- and preserved more than 44,341 buildings that form the historic fabric of our nation.
These resources demonstrate how the federal Historic Tax Credit is a proven job-creating, community-revitalizing investment throughout the nation. Use them to help educate your elected officials at home and in Washington.
State Historic Tax Credits
For more than 30 years, the National Trust has supported the enactment of 37 state historic tax credits and continues to work with partners to increase this number. These credits attract private investment to restore historic properties, many of which would otherwise likely be demolished. And true to their legacy as “laboratories of democracy,” states are innovating with different provisions to tackle complex issues such as rural economic development and affordable housing. The National Trust has observed the renewed prosperity of countless historic communities throughout the country and in nearly every instance a common thread is the use of historic tax credits. Learn more about the State Historic Tax Credit Resource Guide and Data Center and other resources.
Historic Tax Credit Stories