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Kentucky Historic Preservation Tax Credit

The Kentucky Heritage Council worked closely with the Governor’s office and Preservation Kentucky, Inc. [External Link - You are now leaving the .gov domain. ] to rally preservationists across the state to ensure that the historic preservation tax credit provision of the Governor’s 2005 JOBS for Kentucky Tax Modernization Bill was enacted. Only properties listed individually or as contributing to a district listed in the National Register of Historic Places are eligible.

In 2016, Kentucky ranked 6th nationally utilizing the Federal Historic Rehabilitation Tax Credit, with 50 successfully completed projects generating investment of $74,235,891. This tax credit can often be utilized in tandem with the Kentucky Historic Preservation Tax Credit, a key provision that strengthens use and effectiveness of both programs.

That same year, the Kentucky Heritage Council received 138 applications for the Kentucky Historic Preservation Tax Credit from 27 counties; 131 of these were approved pending completion of the work. These approved projects represent $91,957,897 in proposed private investment in rehabilitation. Since the Kentucky tax credit was implemented in 2005:

  • 738 buildings across the state have been rehabilitated
  • $433 million of private funds have been invested in historic buildings, leveraged through $33.2 million in credits
  • Investment has averaged $1.2 million per commercial project, and $120,097 per residential

 

State Law and Regulation
 

NEW!
Tax credit hotline
Not sure where to start? Call our Tax Credit Hotline to help get you to the right place: 502-564-7005, ext. 4478

Enabling Legislation

KRS 171.397
Rehabilitation of certified historic structures - Qualified rehabilitation expenses - Tax credit - Penalty - Administrative regulations

KRS 171.396
Definitions for KRS 171.396, 171.3961, and 171.397

Administrative Regulations
300 KAR 6:010

 

Last Updated 9/19/2017