Historic Tax Credit Applications



Historic tax credit programs, at both the state and federal level, are proven tools for the historic rehabilitation of historic properties. Because of the economic advantages offered to property owners by the tax credit programs, communities in both Iowa and Minnesota are benefiting from the rehabilitation of historic buildings. In Iowa, property owners have the potential for a combined (federal plus state) tax credit of 45% of the qualified rehabilitation costs. The relatively recent development of a tax credit program in Minnesota offers a 20% credit, which, when added to the 20% federal program, provides the potential for a 40% historic tax credit. For more information about historic tax credit programs visit the following:

Federal program: www.nps.gov/tps/tax-incentives.htm

Iowa Program: www.iowahistory.org/historic-preservation/tax-incentives-for-rehabilitation/state-tax-credits

Minnesota program: www.mnhs.org/shpo/grants/MNHistoricStructureRehabilitationStateTaxCredit.htm

The following examples of historic tax credit applications completed by AKAY Consulting illustrate this powerful tool.

Belle Plaine Main Street Revitalization Project – Benton County - Belle Plaine, Iowa

800 Block  - ca.1916 800 Block Before 800 Block - After The Knights of Pythias – After
700 Block – ca.1910 700 Block – Before 700 Block – During 700 Block – After