Are there any other financial incentives that come with National Register status?
3) Yes. Besides the City of Ashland and the State of Oregon encouraging preservation of historic buildings through tax incentives, so does the Federal government. The Federal government offers a 20% tax credit for monies spent on a “certified rehabilitation” of a certified historic structure. In addition, the Federal government also offers a 10% tax credit for monies spent on a non-historic building built before 1936″. Additional information about these programs is available through the Oregon State Historic Preservation Office at 503-378-4168. It should be noted that a tax credit differs from a tax deduction. An income tax deduction lowers the amount of income subject to taxation. A tax credit, however, lowers the amount of tax owed. In general, a dollar of tax credit reduces the amount of income tax owed by one dollar.
