This website does not provide legal, tax or accounting advice; the information provided is intended to be general in nature; and visitors to the website are strongly encouraged to consult their own professional tax, accounting and legal advisors on individual tax matters, or consult the NYS Department of Taxation and Finance or the Internal Revenue Service (IRS). The Office of Parks, Recreation and Historic Preservation is not responsible for the information or advice provided here as it may affect the specific tax consequences to any individual (including sole proprietor), corporate, partnership, estate or trust taxpayer, which will depend on many other facts and circumstances. The information is for the general benefit of persons interested in obtaining certifications from OPRHP that may allow them to qualify for federal or state historic properties tax credits. Given the frequency of changes in federal and state tax laws, regulations and guidance, of necessity, the information cannot be expected to be completely current and it represents a good faith effort to reference controlling laws and regulations as accurately as possible.
Owners of income-producing real properties listed on the National Register of Historic Places may be eligible for a 20% federal income tax credit for the substantial rehabilitation of historic properties. The final dollar amount is based on the cost of the rehabilitation; in effect, 20% of the rehab costs will be borne by the federal government.
The work performed (both interior and exterior) must meet the Secretary of the Interior's Standards for Rehabilitation and be approved by the National Park Service.
Owners of income-producing properties that have been approved to receive the 20% federal rehabilitation tax credit can additionally claim a state tax credit if the property is located in a qualifying census tract.
Owners can receive an additional state credit of 20% or 30% of the qualified rehabilitation expenditure (QRE) up to $5,000,000. In order to qualify for the 20% credit, the placed-in-service date must be after January 1, 2010. For the 30% credit, the placed-in-service date must be after January 1, 2022, and the total QREs cannot exceed $2.5 million.
There is no application form for the state credit; applicants just need to comply with the agency media agreement and submit the applicable review fees (refer to Fee Schedule and Media Agreements). After Part 3 of the federal application is approved by the National Park Service, and the state fees are paid, the New York State Office of Parks, Recreation and Historic Preservation (OPRHP) will issue a certification allowing owners to claim the state credit.
Starting August 15, 2023, federal Historic Tax Credit (also known as Rehabilitation Investment Tax Credit) applications must be submitted to NY SHPO through NY-CRIS.
The National Park Service (NPS), the federal agency that administers this program, has transitioned to an electronic review process starting on August 15, 2023, and will no longer accept hard copy (paper) submissions. NY SHPO manages this federal program in New York.
For information about this program, visit the National Park Service's website here.
The process for submitting applications and supporting materials has changed but the historic tax credit program itself remains the same. Applicants will need to submit digital applications to NY SHPO for review first and NY SHPO will forward applications to NPS for final approval.
NPS and NY SHPO have developed the following requirements for submitting applications and supporting materials electronically:
*** Note: e-signatures that include a typed name in a different font and other types of generated signature images will not be accepted.
Please contact NY SHPO Commercial Tax Credit staff with questions about these requirements. NY SHPO will return incorrectly formatted files. Failing to follow these requirements may result in delays to your project.
The National Park service has developed file- and photo-naming conventions and instructions on organizing files for electronic submission. All electronically submitted applications must follow these conventions and instructions. Applicants should download these PDF files for reference in preparing materials for electronic submission.
NY-CRIS (New York State Cultural Resource Information System) is NY SHPO's online cultural resources data management and GIS tool.
Users may sign up or use the system as a guest. There is no fee for using NY-CRIS; a fee may be collected for the NY State tax credit program if applicable. Applicants will use NY-CRIS and the on-line form to submit materials to NY SHPO in two ways:
Review of federal historic tax credit projects is initiated with the submission of a Part 1.
NOTE: If the project is for a property not yet listed in the National Register of Historic Places, applicants are very strongly encouraged to submit a request for Evaluation of Eligibility to NY SHPO prior to initiating their federal tax credit project. You can find the form by visiting the NY-CRIS website and clicking “Submit” in the top navigation bar. Several form options, including “Evaluation of Eligibility”, will appear.
To initiate a federal tax credit project (temporary process):
Applicants will use the submit new information on an existing project wizard to submit the remainder of the application.
NOTE: If a project was initiated through a hard copy (paper) submission, all subsequent submissions must be through NY-CRIS. Submissions started on paper can generally be completed with paper, but must transition to the digital process for additional submissions.
To continue a federal tax credit project:
NOTE: Only Project Contacts will be able to submit application parts through the “Submit New Information for an Existing Project”. Additional or updated project contacts can be added by e-mailing email@example.com or contacting your project reviewer.
NY CRIS help is available here or by e-mail firstname.lastname@example.org
New York State has extended the availability of this program until December 31, 2024
The legislation also makes the commercial tax credit refundable for rehabilitation projects placed in service on or after 2015. Unused credits from projects placed in service before 2015 can be carried forward indefinitely. The change in the law includes updating the eligible census tracts using the most recent data available.
Buildings placed in service after January 1, 2022, and with final Qualified Rehabilitation Expenditures (QREs) of no more than $2.5 million, are eligible for a 30% state tax credit.