State historic tax credit programs

Mississippi Historic Tax Credit Program

Program overview:

The Mississippi Historic Tax Credit Program offers a 25 percent credit for rehabilitation expenses for properties with expense of more than $5,000 for owner-occupied dwelling or if rehabilitation costs exceed 50 percent of total basis in all other properties.

Annual cap: $12 million ($120 million in program history).

Program details:

  • If property is not listed on National Register of Historic Places within 30 months of claiming the credit, its district isn’t listed on the National Register of Historic Places within 30 months or the rehabilitation is abandoned.
  • If tax credit amount exceeds the taxpayer’s tax liability, taxpayer may elect to claim a refund in amount of 75 percent of the excess credit in lieu of a 10-year carry forward.
  • Taxpayers who were issued certificate of eligibility before July 1, 2016, but didn’t receive the credit due to previous program reaching limit on aggregate amount shall be given priority for tax credits awarded after July 1, 2016.
  • Non-profits are ineligible for credit.
  • Sunset date: Dec. 31, 2030.

Important links:

MHA New Orleans
Office
New Orleans, LA

201 St. Charles Avenue
Suite 2305
New Orleans, LA 70170

(504) 708 2734 Contact our office