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Registration is open for a competitive commercial tax credit webinar, rescheduled to Thursday, August 1 at 10am. This webinar will assist those interested in applying for the FY 2025 competitive commercial tax credit funding round. Portions of the application have been updated this year and this event will provide additional guidance and suggestions on successfully completing the application and project worksheets. This event is free, but registration is required. Register here.
As part of the Maryland Historic Revitalization Tax Credit Program, owners of income-producing properties have the opportunity to earn a state income tax credit (capped at $5 million) that is equal to 20 percent of eligible rehabilitation expenses for substantial rehabilitation projects. Substantial rehabilitation projects are defined as projects with eligible expenses that exceed the greater of the adjusted basis value of the structure or $25,000.
Prospective applicants considering submission of a competitive commercial application in the FY 2025 funding round are strongly encouraged to contact tax credit review staff early in the project planning process. Early communication and site visits allows MHT the opportunity to provide useful guidance in identifying potential design, site, or building challenges, and for further discussion on how to complete a successful application that meets the project goals and is in keeping with the program requirements. Please contact tax credit review staff at mht.taxcredits@maryland.gov to discuss your project and/or schedule a site visit.
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