Rutgers-NPS Report: Record Year for HTC Transactions

Friday, October 20, 2017 - 9:15am

Last year saw new records for qualified rehabilitation expenditures and the number of buildings renovated thanks to the federal historic tax credit (HTC), according to a report released today by Rutgers University and the National Park Service. The Annual Report on the Economic Impact of the Federal Historic Tax Credit for FY 2016 covers Oct. 1, 2015, through Sept. 30, 2016, during which time there was the largest annual increase in rehabilitation expenditures in history–a jump of $1.4 billion from $4.5 billion to $5.9 billion. A record 1,039 buildings were rehabilitated and 109,000 jobs were created by HTC transactions.