Report Highlights Performance of Maine’s Historic Tax Credit

Tuesday, November 16, 2021 - 11:00am

Maine’s Office of Program Evaluation and Government Accountability (OPEGA) released Nov. 10 an Evaluation of the Maine Historic Rehabilitation Tax Credit, finding the state’s historic tax credit (HTC) compares favorably to best practices advised by the National Trust for Historic Preservation. The report combined data from the Maine Historic Preservation Commission on the HTC with economic impact analyses, and described program administrators “diligent” about collecting and reporting data. OPEGA’s report found the HTC is “aligned with its purpose and goals,” with the program contributing to historic preservation, creation of affordable housing and aiding in job creation and economic growth.

Dig deeper into historic tax credit financing with a recent episode of the Tax Credit Podcast hosted by Novogradac’s managing partner Michael Novogradac, CPA, with guest and Novogradac partner George Barlow, CPA.