Tax Credits for Historic Preservation

One of the first questions many people have when they consider purchasing an historic property, particularly one that needs improvement, is "What kind of help is out there for this project?". Fortunately, there are some great financial incentives at the federal, state, and local level that can help make the financial implications of restoring an historic property more manageable.

Qualifications

The type and amount of financial assistance depends on a number of things:

  1. Is the property considered a "certified historic structure"? In the City of Beaufort, any property either individually listed on the National Register of Historic Places or listed as "Contributing" in the 1997 Beaufort County Above Ground Resources Survey is a "certified historic structure."
  2. Is the property going to be owner-occupied or income producing (e.g., rental or commercial)?
  3. Has this property been vacant and abandoned, and for how long?

Organizations Offering Resources

Much research and compilation has been done both by the National Park Service and by the South Carolina State Historic Preservation Office to help property owners figure out exactly which tax credits they qualify for. Below is a list of links to different resources those two organizations have put together. The City of Beaufort also has our own local incentives for certain types of restoration and redevelopment, so those are listed as well. If you have any questions, please contact Lauren Kelly in the Planning Department: 843-525-7014, or email Lauren Kelly.

  1. Federal
  2. State
  3. Local Incentives

Incentives for income producing properties, offered in the following resources: