Historic Tax Incentives

What is a tax credit?

The Historic Tax Credit is a dollar-for-dollar reduction in what you owe in Wisconsin income taxes.

How does the program work?

Property owners apply by submitting a tax credit application. Once approved, the work is carried out, tax credits are applied, and then your project is closed.

• Homeowners:
  The historic homeowners' tax credit is 25 percent of your costs of carrying out eligible work. If your credit is larger than the amount that you owe in state income taxes, you can carry the unused balance into future tax years (up to 15 years into the future) until the credit is used up.

• Commercial Properties/Rental Properties:
  Owners of historic income-producing properties in Wisconsin may be eligible for two income tax credits that can help pay for their building's rehabilitation.

  • The Federal Historic Preservation Tax Credit Program:  This program returns 20 percent of the cost of rehabilitating historic buildings to owners as a federal income tax credit.

  • The Wisconsin Historic Preservation Tax Credit Program:  This program returns 20 percent of the cost of rehabilitating historic buildings to owners as a Wisconsin income tax credit.