The architectural quality of North Wilkesboro's downtown area is important to the entire town, its history, image and economy. The appearance of downtown is largely determined by the condition of its buildings.
Because this appearance also forms the basis of the public's overall impression of downtown, the upgrading and preservation of North Wilkesboro's downtown is crucial to the continued livelihood of North Wilkesboro. Historic Downtown North Wilkesboro, Inc. (HDTNW) and the Town of North Wilkesboro would like to encourage all downtown property owners to participate in this program.
Income tax incentives for the rehabilitation of historic structures are important tools for historic preservation and economic development in North Carolina. A federal income tax credit for the rehabilitation of historic structures first appeared in 1976, and today consists of a 20% credit for the qualifying rehabilitation of income-producing historic properties.
Since 1976, over 1,300 completed "certified rehabilitation" projects have been reviewed by the N.C. State Historic Preservation Office, representing over 500 million dollars of investment in historic properties. The spinoff from all this activity includes job creation, downtown and neighborhood revitalization, improved community appearance, and greater community pride. Historic preservation is smart growth, and smart investment. However, as of January 1, 2015 NC no longer offers tax incentives for the restoration of historic properties.
For more information on both North Carolina and Federal tax credits, go to www.hpo.dcr.state.nc.us/tchome.htm