State historic tax credit programs

New Jersey Historic Property Reinvestment Program

Program overview:

The New Jersey Historic Property Reinvestment Program offers a 40 percent credit for qualified rehabilitation expenditures (QREs) for the rehabilitation of historic properties.

Annual cap: $50 million per year for first six years of seven years for which the program is approved.

Project cap: $4 million.

Program details:

A property must be:

  • income-producing,
  • demonstrate a project financing gap,
  • have a developer with an equity participation of at least 20 percent,
  • and qualify by being listed on the New Jersey and/or National Register of Historic Places, designated by the Pinelands Commission as a historic resource of significance to the Pinelands, or certified as a significant historic resource by a certified local government.
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