The Federal Historic Preservation Tax Incentives program is one of the Federal government’s most successful and cost-effective community revitalization programs. The Preservation Tax Incentives reward private investment in rehabilitating historic properties such as offices, rental housing, and retail stores.

Current tax incentives for preservation, established by the Tax Reform Act of 1986 (PL 99-514; Internal Revenue Code Section 47 [formerly Section 48(g)]) include:

• 20% tax credit for the certified rehabilitation of certified historic structures.
• A 10% tax credit for the rehabilitation of non-historic, non-residential buildings built before 1936.

In the state of West Virginia, one can also apply for and incorporate an additional 10% tax credit, taking total credits to 30% on certified historic structures.

Century Equities completed its first Historic Rehabilitation transaction in 1989 and since then has remained current on changes in the law and strategies, completing several other important historic projects where the generation of the credits was an important element in the overall financial strategy.