Historic Tax Incentive Program FAQ

Contact the Nebraska State Historic Preservation Office (NeSHPO) to learn more about the eligibility of your project. Also, check out the instructions for the Federal Historic Tax Credit, the Nebraska Historic Tax Credit, and the Valuation Incentive Program (VIP). Also, check out this how-to guide on Planning Successful Rehabilitation Projects.

What are my first steps?

The rehabilitation standards and required information are the same. We encourage you to fill out both applications. Each program has its own paperwork, however, the NHTC application is entirely online while the Federal application and VIP application must be typed, printed, and then mailed. Please reference our online comparison chart for differences in eligibility and other financial details.

What is the difference between the federal and state tax credit programs?

Yes and No. The Valuation Incentive Program (VIP) can be used on your personal home. However, single-family detached residences are not eligible for the Federal and State Historic Tax Credit.

Does work done on my house qualify for tax credits?

Most pre-approved work on the interior and exterior qualifies. Landscaping, furnishings, additions, and moveable equipment do not qualify. For more information on what qualifies, visit the IRS website.

What expenditures qualify for tax credits?

It depends, the Nebraska State Historic Preservation Office (NeSHPO) will assess whether or not the existing windows are either beyond repair or ahistorical. If the NeSHPO determines that the windows can be replaced, the replacement windows must match the old in design, color, texture and other visual qualities.

Can I replace the windows?

You must submit an amendment form to the Nebraska State Historic Preservation Office (NeSHPO) for review.

What happens if I make changes to my project during construction?

Yes, you can start and submit Part I with the written consent of the current property owner.

I am interested in participating in a tax credit project for a building that I do not yet own, can I still start the application process?

No. An application must be submitted prior to starting work on your property.

Can I apply for a tax credit after completing a project?

Yes and No. The Nebraska Historic Tax Credit can be sold to a third party of a financial institution (this is potentially a great option for interested non-profits).  The Federal Historic Tax Credit is not transferable. Please see the Nebraska Department of Revenue website for more details.

Are the tax incentives transferable?

Yes, all work on the interior and exterior of the property will be reviewed using the Secretary of Interior Standards. Even work that does not count an eligible expenditure, will be reviewed.

Will all work be reviewed on the project?

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