Rehabbing & House Flipping

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Thomas Fortune
  • Investor
  • Virginia Beach, VA
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84
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Historic Tax Credits

Thomas Fortune
  • Investor
  • Virginia Beach, VA
Posted Jul 6 2016, 10:22

Has anyone gone through the process of applying for the tax credits associated with renovating in a historic district? Question I have:

1) How difficult was it to renovate to the historic architectural standards?

2) Did you receive the entire tax credit you expected? (In VA, eligible properties can get 20% state credit and 25% federal credit)

3) How much longer did the renovation take compared to a similar non-historic renovation? 

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