Kentucky Historic Preservation Tax Credit

The Kentucky Heritage Council worked closely with the Governor’s office and Preservation Kentucky, Inc. [] 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.

To date a total of 261 historic rehabilitation projects have been reviewed through this program.  These represent a private investment of $251,384,872 in historic rehabilitation in Kentucky.  Applying economist Donovan Rypkema’s estimate that 42.3 jobs are created for every $1 million invested in historic rehabilitation, this equals more than 10,600 jobs created for Kentucky.

Through this tax credit program to date: 

• 30 commercial projects have been completed and another 110 have been proposed
• 59 owner-occupied residential projects have been completed and another 62 have been proposed
• A total of $88,788,533 has been invested in these historic buildings
• $188,699 is the average investment for owner-occupied residential properties
• $2,013,823 is the average investment for commercial projects

With the apportionment formula in place and a total cap of $3 million, recipients received a four-year average of 43% of their eligible credit.