STRENGTHENING the COLORADO PRESERVATION TAX CREDIT Today: Celebrate Success How Does the Tax Credit Work? The program allows a 20% tax credit for $5,000 or more of approved rehabilitation expenses on qualified properties with a $50,000 maximum credit allowed. Qualified properties must be at least 50 years old, and can be residential or non-residential projects.
Non-Residential Projects
Results for Colorado direct spending on rehabilitation projects...
...ripples through the economy...
Owner-Occupied Residences
Small to Large Projects
...and positively benefits communities throughout colorado! The tax credit generates greater benefits for the state economy than the actual costs. For example, the tax credit has created...
Replace a Leaky Roof
Facade Improvements
Complete Building Rehabilitaton
STATE TAX CREDIT DOLLARS IN ACTION! Routt County National Bank | Steamboat Springs
1919 *source: clarion associates |
1970
Projects of All Kinds across the State
Today
based on the economic power of heritage and place
| 1991 - 2013
less than
5 projects 5 - 9 projects
50 - 99 projects
10 - 49 projects
100 or more projects
80%
Residential
20%
Non-Residential
The tax credit works well now, especially in urban areas and for residential projects. Strengthening the credit could bring in more benefits to rural communities and encourage more investment in large non-residential rehabilitation projects. See reverse side for more information.