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WEST VIRGINIA SEEKS TO SPUR REVITALIZATION WITH PERMANENT 25% HISTORIC TAX CREDIT

5/6/2021

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West Virginia has made its historic tax rehabilitation credit program permanent. Gov. Jim Justice recently signed the bi-partisan bill, which provides a 25% tax credit for those who rehabilitate historic income-producing properties. 

The 25% credit, which became law in 2018, was set to expire at the end of 2022. In those five years, the program attracted renewed interest in West Virginia’s historic commercial districts and spurred private reinvestment in more than 80 vacant and dilapidated buildings throughout the state. In just two of those years, more than $34 million were invested in nine projects.

The move to a permanent 25% credit provides needed certainty to property owners and developers, explained Renee Kuhlman, Senior Director at the National Trust for Historic Preservation. The 25% credit often fills a financing gap in a project, but the uncertainty around its future made it difficult for developers to successfully apply for construction loans or plan long-term projects.

“The removal of the sunset date increases the attractiveness of the credit to investors,” Kuhlman said. “Already, I’ve received a call from a New Orleans developer wanting information about West Virginia properties because the program was made permanent.”

Without this tax credit, many historic redevelopment projects would not happen, explained Danielle Parker, executive director of the Preservation Alliance of West Virginia, a statewide organization dedicated to supporting and promoting historic preservation. The 25% credit is often the reason a project becomes feasible.
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"There are over 1,000 properties, including 168 historic districts, that can be revitalized using the credit, and I am excited to see how these places can be brought back to life using this financial incentive,” Parker said.
The state historic tax credit is capped at $30 million of income tax credits per year. The program also offers a 20% residential rehabilitation credit for historic homes, which is also permanent.

The State Historic Tax Credit is administered by the WV Historic Preservation Office, and the National Parks Service. For more information on applying for the credit or to find out if your property is an eligible tax credit project, please call 304-558-0240. You can also Visit the WV Historic Preservation Office's website for additional information.

THANK YOU!

​Thank you to Senator Ryan Weld for being the original sponsor of this legislation and for being a champion of historic preservation and community revitalization for West Virginia! 

We want to say thank you to the legislation's co-sponsors too! They are Senators Mike Woelfel, Robert Plymale, Richard Lindsay, Eric Nelson, Stephen Baldwin, Mike Maroney, and Glenn Jeffries.

Special thanks to Delegate Erikka Storch for supporting this bill through  the House of Delegates and to the Abandoned Properties Coalition for leading the charge to make the 25% state historic tax credit permanent.
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  • AmeriCorps
    • About Preserve WV
    • Current Preserve WV Members
    • Join Preserve WV AmeriCorps
    • Preserve WV Stories
    • Sponsor a Member
  • Programs
    • Advocacy >
      • Historic Rehabilitation Tax Credits
    • Annual Awards
    • Blair Footsteps Interpretive Trail
    • Historic Masonry Workshop
    • Historic Wood Window Preservation Workshop
    • West Virginia Endangered Properties >
      • West Virginia Endangered Properties List >
        • Endangered Properties Blog
        • Saved Sites
        • Lost or Archived Sites
    • West Virginia Historic Preservation Conference
    • Webinars >
      • Webinar Archive
    • West Virginia Historic Theatre Trail >
      • Movie Theatres of West Virginia
    • WV New Deal Trail
  • Resources
    • Fund Your Preservation Project >
      • Historic Preservation Loan Fund
      • Saving Historic Places Grant
    • Consultants and Contractors
    • Preservation Techniques >
      • Historic Building Assessment
      • How to Recycle Asbestos
      • Mothballing Property
      • Window Rehabilitation
    • Frances Benjamin Johnston: A West Virginia Icon >
      • Selected Photos
      • Behind the Lens Activity
    • Historic Preservation Degrees
  • News
    • Preservation Spotlights
    • Monthly E-newsletter
  • Contact
    • About Us >
      • Our Team
      • Our Story
  • Give
    • Become a Member of PAWV
    • Give Online
    • Ways to Give to PAWV
    • #GivingTuesday
    • Volunteer