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Rehabilitation tax credits impact Frederick historic buildings
The 1981 Economic Recovery Tax Act offers tax credits for rehabilitating buildings over 30 years old. Credits vary by age and use, with 25 percent for certified historic residential structures, but full credits require a five year hold and meeting a substantial rehabilitation test. Local experts warn of loopholes and lobbying to adjust rules while promoting reinvestment in older properties in Frederick and beyond. In other notes, over 60 percent of first-quarter housing starts, about 1.3 million, were in the South, with Florida and Texas accounting for a large share.
MENTIONED IN THIS ARTICLE
Reagan
Frederick
Christopher K. Grimshaw
Grimshaw
Cherilyn Widell
Widell
Secretary of the Interior
Alsohhe
Richard Brady
Brady
Internal Revenue Service
National Trust For Historic Preservation
Congress
America
National Trust
Senate Committee On Finance