Jump to navigation
Colorado provides Historic Preservation Tax Credits for both residential and commercial properties.
Project cap is $50,000 (interior and exterior work), with the extent of the saving at 25% Qualified Restoration Expenses (QRE's). The City of Central / Historic Preservation Commission (HPC) as a Certified Local Government (CLG) will review the work, but you need to complete the State application to start the review process . You can find more details on the links below:
EXAMPLE: $50,000 project x 25% Colorado Income Tax Credit = $12,500 credit in which you could use over the course of 10 years or sell.
Extent of Savings
30% of QRE’s for projects less than $2,000,000 25% for projects greater than
Max credit $1,000,000
State Office of Archaeology and Historic Preservation (OAHP) reviews the request, must reserve credit – first come/first serve basis ($5M Max each calendar year). You can find more details about the program within the links below:
EXAMPLE: $2,000,000 project (regardless of where the funds come from) with a 30% Colorado Income Tax Credit = $600,000 credit in which you could use over the course of 10 years or sell.
20% income tax credit is also available for the rehabilitation of historic, income-producing buildings that are determined by the Secretary of the Interior, through the National Park Service, to be "certified historic structures".
Visit Main Street Casinos' website for a future vision and features of current available properties.
On March 16, 2017, Central City was granted permission to be included into the Northwest Colorado Enterprise Zone. Any and all businesses within the City can now pre-certify for Enterprise Zone tax credits. You can find more information on the specific benefits of this enterprise zone on their website within the below link.
A workshop introducing the program to the public, businesses and civic leaders will be held this spring. The date of which will be announced soon.
Please contact a local realtor for more information.