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Welcome
Welcome to Preservation Ohio's Resource Center for the Ohio Historic Preservation Tax Credit.
The Ohio Historic Preservation Tax Credit is available again during two application cycles in 2009. This site is designed to provide an overview of the new tax credit, and to direct you to the latest resources, news and information concerning its availability and use. This site will be updated as information becomes available to Preservation Ohio. Some quick facts about the rounds of the Ohio Historic Preservation Tax Credit:
- Amount Available: Round 3 - $17.5 million; Round 4 - $24.2 million.
- Initial Dates for Submission of Required Tax Credit Application and Supporting DocumentsJuly 1 to September 30, 2009
- Amount of Credit: Refundable tax credit of 25% of the “qualified rehabilitation expenditures” (including some soft costs) on eligible projects toward intangibles, corporation franchise, or income tax.
- Eligible Properties: Listed individually on the National Register of Historic Places, individually landmarked by a Certified Local Government (CLG) (see link to the right), included in and verified as being of significance to a National Register Historic District, included in district designated by a CLG, or included in a district certified by the National Park Service.
To verify that a particular property is eligible under that criteria, use the links to the right.
- New for 2009: Scoring criteria includes consideration of regional distribution (economic
development region, cities and counties) and potential economic impact (secured financing,
leveraged investment, jobs created, timeframe, physical scope, end use, vacant property, "green" standards, strategic plan inclusion, low-mod income, and whether in an economic development innovation zone.
For More Information
For additional information on the Ohio Historic Preservation Tax Credit, including answers to specific questions, referrals to specialists, combining the credit with other credits and deductions, and holding preservation financial incentive workshops in your area, please contact: Thomas Palmer, Executive Director of Preservation Ohio at:
E-mail: tpalmer@preservationohio.org
Phone: (614) 437-8393
Important Info:
Ohio Historic Preservation Tax Credit
Resource Links
THE BASICS
Ohio Historic Preservation Tax Credit Legislation - As Enacted
Ohio Department of Development OHPTC page, including official application, instructions, application overview, and criteria summary/self-scoring document
OVERVIEWS AND PROGRAM SPECIFIC RESOURCES
Overview of the Ohio Historic Preservation Tax Credit - a complete set of handouts from the May 8, 2007 workshop on the OHPTC presented by the Cuyahoga County Department of Development [NOTE: this is for the previous version of the tax credit; several provisions have changed]
Other State Historic Tax Credit Programs:
National Register of Historic Places listings (check both individual and district listings)
Ohio Historic Preservation Office National Register Historic District Address Finder (verifying that a building is included and contributing)
Other Financial Incentives for Historic Renovation/Restoration
Federal Rehabilitation Tax Credit - The Federal Rehabilitation Tax Credit provides for both a 10% and 20% credit on rehabilitation expenses. The criteria for each program is different; please see the resources below for an overview. Please note that under certain circumstances, each of these credits may be available in conjunction with the Ohio Historic Preservation Tax Credit and/or a Preservation Ohio preservation easement, thereby dramatically increasing the economic incentive for rehabilitation of historic buildings.
Incentives! A Guide to the Federal Historic Preservation Tax Incentives Program for Income-Producing Properties - National Park Service
New Markets Tax Credits - The "Overview of the Ohio Historic Preservation Tax Credit" listed above includes an analysis of how the Ohio Historic Preservation Tax Credit can be combined with both the Federal Rehabilitation and New Markets Tax Credits.
Preservation Easements - Preservation easements, also known as "historic conservation easements," accomplish two goals - they provide for ongoing safeguards for a property's historic integrity, and they also provide financial benefits for property owners. As noted above, a preservation easement can be combined with the Ohio Historic Preservation Tax Credit and/or the Federal Rehabilitation Tax Credit for maximum benefit. Preservation Ohio administers the most comprehensive statewide preservation easement program in Ohio.
