The federal government offers a historic tax credit of up to 20 percent of the rehabilitation costs for historic redevelopment. In addition, several states offer a commercial tax credit to spur redevelopment in their communities. Those states, their credits, and contact information follow:

Colorado: 20 percent, Colorado Historical Society 303-866-3395
Indiana: 20 percent, Indiana Department of Natural Resources 317-232-1646
Maine: 20 percent, Maine Historic Preservation Commission 207-287-2132
Maryland: 25 percent, Maryland Historical Trust 410-514-7600
Michigan: 25 percent (limited time), Michigan Historical Center, 517-373-1630
Missouri: 25 percent, Missouri Historic Preservation Program, 573-751-7858
New Mexico: 50 percent (with $25,000 cap), Historic Preservation Division, 505-827-6320
North Carolina: 20 percent, North Carolina Historic Preservation Office, 919-733-4763
Vermont: 5 percent, plus 25 percent for façade, access and code work with $25,000 cap, Vermont Division for Historic Preservation, 802-828-3211

These states offer property tax abatements on historic properties: Alabama, Alaska, Arizona, California, Florida, Georgia, Hawaii, Illinois, Iowa, Louisiana, Maine, Maryland, Massachusetts, Mississippi, Montana, Nevada, New York, North Carolina, Oregon, South Carolina, South Dakota, Texas, Washington.

In Washington, D.C., historic properties may be assessed according to their actual, rather than "highest and best" use. For more information, contact District of Columbia Historic Preservation Division, 202-442-4570.