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Preservation Easements
Program
Tax Legislation Encourages Historic Preservation
 The
Federal government feels that a significant part of America’s history is
contained within its architectural legacy. In 1980, Congress passed tax
legislation to provide a substantial Federal income tax deduction to owners of
historic properties. Qualified owners are those with structures that are
contributory to historic districts or individually listed on the National
Register of Historic Places.
A historic property Preservation
Easement is the legal mechanism by which historic property owners can avail
themselves of the tax benefits offered by the Tax Reform Act of 1976 and the Tax
Treatment Extension Act of 1980 (Public Law 96-541). Together, these Acts form
the basis of the Federal Historic Preservation Tax Incentive Program. This
Federal IRS INCOME TAX program encourages qualifying property owners to directly
participate in the process of preserving America’s architectural history.
In 1986, the Department of the
Treasury issued regulations governing the circumstances under which Preservation
Easement donations would be allowable as charitable deductions (Treasury
Regulations Section 1.170A-14).
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