NYS Office of Parks, Recreation & Historic Preservation -
NYS Tax Credit: Income-producing properties

Purpose

This tax credit must be used with the Federal Investment Tax Credit Program for Income Producing Properties. Owners of income producing properties that have been approved to receive the 20% federal rehabilitation tax credit automatically qualify for the additional state tax credit if the property is located in an eligible census tract or targeted area. Owners can receive an additional 20% of the qualified rehabilitation expenditures up to $5,000,000 for tax years beginning on or after January 1, 2010, and before January 1, 2015.

For more information, contact the NYS Historic Preservation Office or utilize the Territorial Map section of our web site to find information for the Technical Program Representative for specific counties.

Eligibility

In order to qualify, the placed-in-service date must be after January 1, 2010. There is no application form. After Part 1 and Part 2 of the federal application are approved by the National Park Service, The New York State Office of Parks, Recreation, and Historic Preservation will issue a certification form allowing owners to take the state credit.

Contact

John Bonafide
Historic Preservation Services Coordinator
NYS Office of Parks, Recreation & Historic Preservation
Peebles Island Resource Center
Delaware Avenue
Cohoes, NY 12047
(518) 237-8643

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