Program overview:
The Delaware Historic Preservation Tax Credit Act offers a 20 percent credit for properties eligible for Federal Historic Tax Credit (HTC); a 30 percent credit for homeowners and non-profits; and a 100 percent credit for resident curatorship properties.
Annual cap:
$8 million
Program details:
- A 10% bonus credit applies for depreciable projects that qualify for low-income housing tax credits and homeowners who meet low-income qualifications.
- 20% of qualified expenditures for income producing buildings, residential buildings.
- An additional 10% for low-income housing developments.
- $30,000 cap for single rehabilitation of owner-occupied property.
- 30% for all other historic buildings.
- Carry forward: 10 years.
- Recapture: same as federal.
Who can use the credit?
The credit may be transferred in whole or in part at any time during the 10-year period. Commercial property owners may use the credit and property owners without tax liability, such as nonprofits or local governments, can take part in the program.
Important links: