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History in the Making

Tax program gives back to historic fixer-uppers

This story appears in the May 2000 issue of

You'll find them scattered throughout America's older neighborhoods, historic districts and rural stretches-historic homes that have found new life among preservationists and at-home workers.

And unbeknownst to many, the federal government is lending a helping hand to people who undertake the task of reviving these pieces of American history. The federal Historic Renovation Tax Credit program provides a 20-percent tax credit against current or future tax liabilities for money spent on renovating a registered historic structure. The only caveat: The properties must be income-generating, meaning anything from a warehouse to a retail shop to a home office may qualify.

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