Maryland Historic Revitalization Tax Credit Program
NOTICE
The legislation creating the Small Commercial Tax Credit program authorized MHT to issue Initial Credit Certificates for projects in an amount not to exceed 4 million dollars in tax credits.
MHT is currently in receipt of and processing applications that, if approved, would result in the program being fully subscribed. Please note that all applications are being processed in the order in which they were received and that once all funds have been fully obligated MHT will cease accepting new applications.
If you have any questions about the status of an existing application or guidance on the submittal of a new application you should email Kate Jaffe at kate.jaffe@maryland.gov
State Tax Credits
MHT staff continue to review all submissions for the Maryland Historic Revitalization Tax Credit Program as they are received. Program staff are currently on telework and are best reached by e-mail at the address noted at the bottom of this page.
Please note that due to ongoing staff vacancies and the challenges of remote working requirements, Tax Credit review periods are currently running between 60 and 85 days and are likely to increase.
PLEASE NOTE CHANGES IN THE FOLLOWING AREAS FOR ELIGIBILITY AND PROCESS IN THE SMALL COMMERCIAL PROGRAM:
EFFECTIVE DECEMBER 16, 2019 – (1) INVESTMENT DEVELOPERS ELIGIBLE UNDER SMALL COMMERCIAL PROGRAM, (2) CHANGES TO THE SMALL COMMERCIAL PROGRAM REVIEW FEES, AND (3) SMALL COMMERCIAL PROJECT ELIGIBLE EXPENSES CERTIFICATION REQUIREMENT. PLEASE SEE THE SMALL COMMERCIAL PAGE FOR DETAILS
The purpose of state and federal preservation tax incentives is to encourage private sector investment in the rehabilitation and re-use of historic buildings and to promote investment in local economies.
If you own a certified historic property in Maryland, you may have the opportunity to earn a state income tax credit on qualified rehabilitation expenditures. Whether you are planning to rehabilitate your primary or secondary residence or a commercial property, there are state incentives that may help. Select a project type for more information.
Program History
For the past 17 years the program has played a key role in community revitalization by supporting the rehabilitation and reuse of underutilized historic properties across the state. The program is credited with rehabilitating about 4,400 historic buildings and creating some 25,000 jobs since its implementation in 1996. The state’s investment of about $350 million has reached into all of Maryland’s 23 counties and the city of Baltimore. The Abell Foundation has estimated that about 73 jobs are created for each $1 million in tax credits and every dollar invested generates $8.53 in economic activity.
For general information about the Historic Revitalization Tax Credit Program or to check the status of your project, contact Kate Jaffe, Administrator, Preservation Financial Incentives, at 410-697-9537; or Bonnie Baden, (410) 697-9535.
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