Many property owners enjoy the sense of pride, prestige, and connection to history associated with owning an historic property. There are many tangible benefits of owning an historic property as well. Owners of properties in a National Register Historic District may be eligible to apply for federal tax credits for the qualifying rehabilitation of income producing properties. The State of North Carolina authorizes a 10-15% credit for those taxpayers who receive the federal credit, providing investors with a combined 30-35% credit against eligible project costs.
In addition, the state provides a 15% credit for the rehabilitation of non-income-producing historic properties, including private residences. In the Local Historic District, Design Guidelines encourage the purchase and rehabilitation of properties because investors can be confident that attractiveness of the surrounding neighborhood will be maintained. In general, historic areas tend to be attractive, human-scaled, walkable, and well-maintained.