Historic Tax Credits 101

Tuesday, September 24, 2019

 7:30 p.m. - 8:30 p.m.

Musser Public Library & HNI Community Center

Properties that are listed on the National Register of Historic Places (NRHP) individually or as contributing buildings in a historic district are eligible for historic tax credits that reimburse a property owner for a percentage of qualified rehabilitation expenses. Muscatine includes two large historic districts, the Downtown Commercial Historic District designated in 2006 and the West Hill Historic District designated in 2008. In addition, a nomination for a proposed Fair Oaks Historic District is currently in process. Elsewhere in the county, the West Liberty Commercial Historic District in downtown West Liberty was listed on the NRHP in 2001, and the Wilton Downtown Historic District was listed in 2016. Scattered individual properties are also listed on the National Register of Historic Places throughout Muscatine and Muscatine County.

The emphasis will be on Iowa’s historic tax credit program, which provides a 25% refundable state income tax credit of qualified rehabilitation expenses for a project involving any property listed on or eligible for the National Register of Historic Places. Residential, commercial, and other non-commercial properties qualify for this program. General information will also be presented on the federal historic tax credit program, which provides an additional 20% federal tax credit for income-producing properties (such as commercial or rental properties) listed on the National Register of Historic Places. Information will also be presented on other financial incentive programs.

The seminar will be presented by Rebecca Lawin McCarley of SPARK Consulting in Cedar Rapids.

Please Contact With Questions
Jodi Royal-Goodwin
563.262.4141
Email Jodi Royal-Goodwin