Issue Position: Historic Tax Credits

Issue Position

Historic Tax Credits have been used in 90 out of N.C.'s 100 counties, in both rural and urban areas. They have brought in over $1.6 billion in private investment into North Carolina communities, boosting local economies and creating jobs while preserving our state's priceless historic character. Large cities and small towns across our state have benefitted from these credits with vibrant, busy downtown areas. Cultural and heritage tourism thrives with the preservation of "authentic' North Carolina historic buildings bringing in tourism dollars and continued economic strength.

Historic Tax Credits are used by business and homeowners who own historic properties listed in the National Register of Historic Places to preserve their buildings within defined guidelines. The tax credits are taken after the projects are completed when the owners file their taxes. No state monies are used upfront for these credits, but rather owners take the risk and pay less at the time taxes are due.

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