Tax Credit and Abatement Programs
If your property carries an official historic designation, it may be eligible for the preservation tax credit. This potential savings empowers owners committed to restoring or rehabilitating their historic home or business. Learn more about state and federal tax credits and other funding sources.
Historic Rehabilitation Tax Credits
Official designation as an historic resource may entitle your property to tax credits designed to reduce restoration and rehabilitation costs. Owners of commercial properties listed in the National Register of Historic Places may receive a 20% tax credit.
Bailey Bill Historic Properties Tax Abatement Program
Owners of residential properties listed either individually or as a contributing property within an official local historic district may receive tax reductions through the Bailey Bill, a South Carolina law which freezes the tax base of an historic property at its pre-rehabilitated/pre-restored condition for 20 years.
Other Funding Sources
The National Trust for Historic Preservation offers other funding sources for preservation projects.
Questions about Historic Tax Credits and Abatements?
Reach Out to Our Preservationists
Curious about how historic tax credits and abatement can enhance your property's value? Contact us today! Please note we cannot answer personal tax questions.