Chances are, if you’ve ever lived, worked, or played in Columbia, you were probably all up in a historic structure. What it does is this: If you are the owner of a historic structure and you perform a sensitive rehabilitation of that structure, then you earn a 20% tax credit on rehab costs. The Historic Tax Credit (HTC) is a tool to aid in the preservation of buildings. So, what are the owners of historic buildings to do? Enter the Historic Tax Credit. Plus, who doesn’t love exposed brick? But, like I said, it can be very expensive. It reminds us of our past, of our progress, and our responsibility to future generations to preserve the built environment. (Like, really expensive.) Typically, rehabbing a building can be a much more lengthy + tedious process than starting from scratch.īut, as we all know, thanks to our historic Main Street + Congaree Vista districts, historic architecture is pretty very special. When historic buildings fall into disrepair (think the BullStreet campus) it can be very expensive to renovate them. What’s the deal with Historic Tax Credits? If you don’t need convincing and are ready to step in and save the HTC, find more info here. Should this bill pass, it would be a huge blow to the preservation communities in Cola + across S.C. But as of last Thursday, not even taxes are safe: A bill introduced in the House of Representatives last week eliminates the Historic Tax Credit. The old saying goes that there are only two things that are certain: death & taxes. The Cola you know wouldn’t exist without the HTC.

Columbia’s unique historic districts wouldn’t look like they do now - or may not even be standing - without the help of one thing: the Historic Tax Credit. How much does it cost to rehabilitate a historic structure? More than most of us have in our piggy banks. Like it or not, preservation often comes down to cold hard cash. 701 Whaley before exterior | Image courtesy Historic Columbia

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