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Investment Tax Credit
If you own a historic building that could use some work or even a lot
of work, and you want to maintain its architectural value, then you need to know about the
preservation tax credit.
The credit is a substantial federal tax break that helps offset the cost of
rehabilitating an older building. Equally important, the tax break helps ensure that New York
State's historic buildings are renewed and preserved. The State Historic Preservation Office
can guide you through the tax credit process and provide technical assistance.
Income Tax Credits
- • Federal Investment Tax Credit (20%)
- Frequently Asked Questions
- • New York State Barn Income Tax Credit (25%)
Property Tax Abatements
- • Locally Designated Property
- • Farmer's Protection and Farm Preservation Act
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