Colorado Historic Tax Credit Covers Roofing Services
Updated: Feb 27
Roofing Services Covered Under Colorado Historic Preservation Tax Credit
Owners of historic commercial buildings in Colorado take note – the state offers tax credits for qualified construction and rehabilitation work on these buildings, including roofing services. The Commercial Historic Preservation Tax Credit helps rehabilitate historic, owner-occupied commercial properties.
The tax credits can range from 20 percent to 35 percent of rehabilitation expenses, up to $1 million in tax credit per property per year. The state defines qualified rehabilitation expenditures as “expenses necessary to restore a building for commercial use.”
Qualifying expenditures include:
Roofing services and flashing
Exterior improvements and repairs
Structural improvement
Electrical improvements
The program awards up to $10 million in tax credits every year. Half of the credits are for smaller projects with budgets up to $2 million, with the other half going to larger projects. The maximum tax credit for any property is $1 million per calendar year.
Approved projects receive, at a minimum,
25 percent tax credit for expenses up to $2 million
20 percent tax credit for expenses totaling $2 million or more
The maximum tax credit is $1 million
The credits can be carried forward for up to 10 years before they expire. They can also be transferred.
The location of the property can determine the tax credit. Buildings in rural or disaster areas are eligible to receive larger tax credits.
Who Can Apply for the Colorado Historic Preservation Tax Credit?
The tax credit is available to:
Property owners
Property tenants who have a lease of at least 39 years in urban areas or a five-year lease in rural areas
The holder with a property under contract
Colorado first offered the tax credits in 1990. The state legislature reauthorized the credit in 2018. The program is scheduled to end in 2029.
To apply, go to https://oedit.colorado.gov/commercial-historic-preservation-tax-credit.
Your Historic Roof Experts
United Materials has nearly 100 years of experience providing professional roofing services for historic buildings. A new roof or a roof repair from United Materials can maintain the historic character of the building. All of our roofs meet local building codes and historical requirements.
United Materials Roof Benefits
Long service life
Improved energy efficiency
Environmentally friendly
Increased protection from harsh weather
You can see some of our work on historic and contemporary buildings at our online portfolio.
Meeting Your Needs
United Materials will work with you to provide services that meet your needs, budget and schedule.