Cincinnati Preservation Association

Ohio Historic Tax Credit Renewed

Buckeye State preservationists cheered when the Ohio Historic Preservation Tax Credit was renewed in 2011. Heritage Ohio, a statewide advocacy group, led the successful campaign, supported by preservationists across the state, including CPA. Cincinnati City Council joined many other Ohio cities in passing a resolution in support of the credits.

The tax incentive allows developers of income-producing historic buildings to deduct 25% of qualified rehabilitation expenses from their state taxes and can be combined with the 20% federal credit. The first round of projects under the new credit, announced in December 2011, includes four in Cincinnati:

Avondale: Haddon Hall
Lower Price Hill: St. Michael’s Church Complex
Over-the-Rhine: Crown Building, 15th & Republic buildings

Read more:
http://www.ohiohistory.org/resource/histpres/yourtown/tax/
http://www.heritageohio.org/programs/historic-tax-credits/
http://development.ohio.gov/Urban/ohptc/documents/Round7ApprovedApplications.pdf

Date posted: January 13, 2012