Tax Credits
Have you purchased a historic property in Moore County? In the state of NC you may be eligible for tax credits regarding any work that is done on your property.
Whether you are renovating your own historic home – or rehabilitating an historic building for a commercial purpose – a variety of Federal and state tax credit are available to support preservation efforts. Since 1976, these incentives have spurred over $1 billion of investment in historic properties in the state of North Carolina.
On March 29, 2023, The Pines Preservation Guild, the Town of Southern Pines and Gordon Asset Management hosted a Historic Tax Credits 101 Class in Southern Pines. For more information, visit the class info page here
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Example: apartments and commercial buildings
Federal and NC State tax credits worth a total of 35% of qualified rehabilitation costs.
Eligible income-producing property, before and after rehabilitation
Income-producing properties are properties that are rehabilitated for commercial, industrial, agricultural, or rental residential purposes. Eligible properties have to be certified historic structures, meaning they are either:
Those individually listed on the National Register of Historic Places
Those located in a Federally registered historic district as a contributing building
Deemed a “certified historic structure” after application to and review by the National Parks Service.
The Federal government offers 25% and the state of NC offers 15% income tax credits in Moore County against the qualified rehabilitation of such historic, income-producing properties.
For example:
Total Project Expenses - $600,000
Qualified rehabilitation expenses - $325,000
Federal Tax credits available (@20%) - $65,000
NC state Tax Credits available (@15%) - $48,750
Total Income Tax credit incentive - $113,750
To learn more about the Federal Rehabilitation Tax Credits visit:
To learn more about NC State Rehabilitation Tax Credits visit:
Contact NC SHPO directly for more information. Provide your name, address, and the name and location of your project.
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Example: privately owned residences
NC income tax credit worth 15% of qualified rehabilitation costs.Eligible for residential spaces before and after rehabilitation
The state of North Carolina provides a 15% income tax credit incentive for the rehabilitation of eligible non-income producing properties, which includes private residences. Eligible rehab expenses must be incurred within the defined 24-month period, though the overall project may take longer than 24 months. Eligible rehabilitation expenses are limited to $150,000, with a maximum tax credit of $22,500, exceeding $10,000 within a 24 month period.
For example:
Total Project expenses - $100,000
Qualified rehabilitation expenses - $50,000
NC state tax credits available (@15%) - $7,500
Eligible properties in Moore County include:
Those individually listed on the National Register of Historic Places
Those located in a Federally registered historic district as a contributing building
To learn more about NC State Rehabilitation Tax Credits for homeowners visit:
Contact NC SHPO directly for more information. Provide your name, address, and name and location of your property.