Historic Tax Credits
Since April, 2004, the Massachusetts Historic Rehabilitation Tax Credit program (MHRTC) has been catalyzing the rehabilitation, reuse and revitalization of historic properties across the Commonwealth. These historic structures have been rehabilitated to create quality affordable and market rate housing, community centers, commercial and office space, performing arts venues, restaurants, health centers, veteran and senior housing and more, benefiting our communities in numerous ways.
The program has proven to be a critical tool for preservation projects and economic development across Massachusetts. From theatres in Worcester and Pittsfield to hotels in Boston and Stockbridge, this credit actively demonstrates the economic benefits of preservation while revitalizing our neighborhoods. Not only is the historic fabric of our Commonwealth being reused and communities revitalized, but vital links between preservation, development, businesses and other professions are being forged and strengthened. Jobs are being created, lights are being turned back on and downtowns are being rejuvenated.
Beginning with only $10 million in annual credits available in 2004, the cap rose to $15 million in 2005 and then to $50 million in 2006 and finally to $55 million in 2018. Preservation Massachusetts continues to lead critical legislative efforts on Beacon and Capitol Hill to sustain and grow this vital program to benefit projects across the state, not only preserving historic structures but encouraging economic development, creating jobs and stimulating the economies of our communities all over Massachusetts.
Hover over the images below for more details about the MHRTC.
Oscar Romero House in New Bedford was vacant for over 15 years and in deplorable condition before its renovation
Oscar Romero House after renovations done by Community Action for Better Housing (part of Catholic Social Services), WHALe, and NEI General Contracting.