Delaware's Historic Preservation Tax Credit Program assists in preserving and rehabilitating historic buildings throughout Delaware Enacted in 2001, $30 million in tax credits are available for ten years, with $3 million allocated each year. Since its inception, the program has proven highly successful, generating over $79 million in private investment to rehabilitate twenty-five historic buildings.
Amount of Credits The amount of the tax credit is equal to a percentage of the cost of the rehabilitation:
- 20% for income-producing buildings
- 30 % for owner-occupied, residential buildings
additional 10% for low-income housing projects
Credits can be transferred, sold or assigned to anyone with Delaware income tax or franchise tax liability.