The federal government has created an incentive program to assist owners of historic properties located in National Register Districts. Called the Federal Rehabilitation Tax Credit, the program provides a 20% federal income tax credit to the owners of historic properties that undertake a substantial rehabilitation of their property. Generally speaking, the property must contribute to the National Register District, and the rehabilitation must cost more than $5,000 or more than that adjusted valuation of the property assessment. For more information visit: http://www.in.Rov/dnr/historic/368Q.htm
(Ord. 14, 2011, passed 10-3-11)