The Programs: In Maryland, many counties and municipalities offer owners of certified historic structures incentives (often in the form of a tax credit on property taxes) to assist with the rehabilitation of their properties. Similar to the state’s historic preservation tax credits, these credits impact local tax liability and can be used in addition to the state and federal credit, if applicable. In Montgomery County, for example, which offers a 25% credit, a project eligible for state (20%) and federal credits (20%) could conceivably receive credits equal to 65% of the total eligible project costs. [This should not be considered tax advice and is purely for demonstration]
Currently, the counties, cities and towns that offer some local incentive for rehabbing historic properties include:
Our Position: Preservation Maryland believes that historic preservation is a catalyst for sustainable economic growth and development. We support local incentives and support efforts to expand these important programs to underserved regions of the state where they do not currently exist.
Recent press on Montgomery County’s $2.6 M tax credit allocation