NM Historic Preservation Tax Credit

About This Program

Owners of certified historic structures in New Mexico can claim a 20% federal and 25% state tax credit on qualified rehabilitation expenditures. The property must be listed on or eligible for the National Register of Historic Places, and all work must be approved by the State Historic Preservation Office (SHPO). Combined credits can offset up to 45% of eligible renovation costs.

Combined 45% credit on qualified rehabilitation costs. Non-refundable credits; must have tax liability. Significant paperwork and SHPO approval required.

Key Details

• Property must be a certified historic structure (listed/eligible for National Register)
• 20% federal credit + 25% NM state credit on qualified rehabilitation costs
• All work must be pre-approved by NM State Historic Preservation Office (SHPO)
• Non-refundable credits – requires federal and state tax liability
• NM SHPO: 505-827-6320

How to Apply

Deadline: Rolling – file with federal and state tax returns