Five years after legal setback, historic tax credit market has righted, grown

Five years after a landmark legal decision disrupted the historic tax credit (HTC) market, the industry has adjusted and grown–to record numbers.

An annual report released in late July by Rutgers University and the National Park Service (NPS) reported the largest year-over-year increase in Part 3-certified HTC transactions since the advent of the current HTC structure in 1986. The “Annual Report on the Economic Impact of the Federal Historic Tax Credit for 2016,” which based its analysis on data provided to the NPS for each HTC transaction from Oct. 1, 2015, through Sept. 30, 2016, cited a record $1.2 billion in certified HTCs, an increase 32 percent over 2015’s totals.

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