If you are looking for a building that qualifies for Historical Tax Credits, this might be for you.

As a motivation for the private sector to invest in the rehabilitation and re-use of historic buildings, Historic Preservation Tax Incentive programs have been created. The Ohio Historic Preservation Tax Credit Program provides a state tax credit up to 25 percent of qualified rehabilitation expenditures or “QREs” and the Federal program provides 20% where they can be stacked for up to 45%.
In general, a dollar of tax credit reduces the amount of income tax owed by one dollar.
Tax credits based upon “QREs”. For illustration purposes, suppose $1 million is spent on “QREs” x 45% = $450,000 in tax credits. This is $450,000 to either offset or be credited towards the total taxes owed making it an investors dream. Note: There is a maximum $5 million in Ohio state tax credits.
A building first needs to fit a category to be eligible. This beautiful building qualifies:
In Selling Property - Asked by ken r. - Aug 27, 2017
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