Historic Tax Credits

Owners of historic buildings and barns may qualify for a tax credit to rehabilitate the property.

The New York State Historic Homeowner Tax Credit

This program provides a 20% NYS tax credit Qualified Rehabilitation Expenditures (QRE) for the rehabilitation of an owner-occupied property. Projects must exceed $5,000 in QRE’s with 5% of the total project cost spent on exterior work, and is capped at $50,000 credit value.

To be eligible for the homeowner tax credit program, the property must be:

  • An owner-occupied structure with a residential use (including condominiums and cooperatives),
  • Listed on the State or National Register of Historic Places (either individually or as a contributing building in an historic district) or in a Certified Local Historic District,
  • Located in a Qualified Census Tract, which is a federal census tract that is at or below the State Family Median Income Level.**

For more information about the NYS Historic Homeowner Tax Credit program, you can attend one of our Drop-In Workshops or consult one of the following:

**In 2019, the NYS Budget included a provision to remove the eligible census tract requirement for historic homes in cities with a population under one million and with at least a 15% poverty threshold

Tax Credit Preparation Services – Need to rehab but don’t want the paperwork? PBN is now offering homeowner tax credit application preparation services. Our trained staff can work with you through the entire process, including: determining eligibility, reviewing work to assess compliance with The Secretary of the Interior’s Standards,and preparing Parts 1, 2, and 3 of the State application.


The New York State Commercial Rehabilitation Tax Credit

This program provides a 20% NYS tax credit on Qualified Rehabilitation Expenditures (QRE) for the rehabilitation of an income producing property. When pursuing this credit, it is used in conjunction with the Federal Historic Preservation Tax Incentive Program. Together, the federal and state programs offer a 40% tax credit on QRE’s, with the state tax credit capped at $5 million.

PLEASE NOTE that Public Law No: 115-97 (December 22, 2017) amends the Internal Revenue Code to reduce tax rates and modify policies, credits, and deductions for individuals and businesses. Section 13402 modifies the 20% Historic Rehabilitation Tax Credit and provides certain transition rules. These and other changes to the Internal Revenue Code may affect a taxpayer’s ability to use the 20% tax credit.

For more information:

New York State Historic Barn Tax Credit

Part of the Farmer’s Protection and Farm Preservation Act, this program provides a 25% tax credit on the rehabilitation of historic barns.

For more information visit NYSHPO’s Historic Barns (website)