Baltimore City Historic Tax Credit for Historic Rehabilitations and Restorations (CHAP Tax Credit)
Historic Rehabilitation and Restoration Tax Credit (CHAP Tax Credit)
In 1996, the Mayor and City Council established Baltimore City’s Historic Tax Credit Program (CHAP Tax Credit), fostering the rehabilitation of historic structures throughout Baltimore. The Historic Tax Credit Program is open to residential and commercial buildings. To date, more than 5,000 rehabilitation projects have participated.
The program is a 10 year, comprehensive tax credit program that helps the City in its mission to preserve Baltimore's historic neighborhoods by encouraging property owners in historic districts to complete substantive rehabilitation projects. The 10-year credit is granted on the increased property value, resulting from the qualifying rehabilitation work. The tax credit is computed once and used for the entire 10-year life of the credit. The Department of Finance is responsible for calculating the credit and all questions regarding the calculation should be addressed to them.
To date, over one billion dollars has been invested in historic properties since 1997, with more than 3,000 restorations currently underway in historic districts throughout the City.
- Ten-year tax credit for all renovations, interior, and exterior, is the most generous in Baltimore City, and among the most comprehensive in the country.
- Credit benefits both homeowners and businesses.
- The goal of the program is to help preserve Baltimore's neighborhoods by encouraging restoration and rehabilitation.
- Credit is fully transferrable to a new owner for the remaining life of the credit.
Learn more about the credit in the 2020 Analysis of the Tax Credit.
GET STARTED HERE: Tax Credit FAQ
Program Rules and Regulations Updated 12/14/2020