City of Colorado Springs / Land Use Review / Historic Preservation / Tax Credits

Tax Credits

Colorado Tax Credits for Certified Rehabilitation
 

Colorado Tax Credits for Certified Rehabilitation were introduced in 1990 and reauthorized in 1999.  Recipients apply the tax credits to their Colorado Income Tax returns.  The program is currently administered by the State Office of Archaeology and Historic Preservation (OAHP)  Eligible properties include:

• Individual resources listed in the NATIONAL REGISTER OF HISTORIC PLACES
• the STATE REGISTER OF HISTORIC PROPERTIES, including
• contributing properties in NATIONAL AND STATE HISTORIC DISTRICTS. 
• Also, PROPERTIES THAT HAVE HISTORIC PRESERVATION OVERLAY ZONING  have access to the program.

The credits are calculated at 20% of state-defined qualified costs.  Ordinary maintenance items, such as painting, reroofs and furnishings are not included, nor are items of a purely cosmetic nature.  Landscaping, pouring of patios, sidewalks and driveways or and earth moving also do not qualify.  Finally, new construction, such as additions or new garages, are not regarded as rehabilitation. 

Rehabilitation costs must amount to $5,000 or more, and work must be completed within two years.  If work items involve historic fabric important to the character of the resource, that fabric must be preserved to the greatest extent possible. 

For more information, please contact the OAHP at (303) 866-3395 or oahp@state.co.us.