Neighborhood Preservation tax credits available

The 2021 Neighborhood Preservation Act application cycle is now open. Applications must be postmarked no later than February 16th. Administered by the Department of Economic Development, the Neighborhood Preservation Act is a tax credit program created to aid in the rehabilitation and new construction of homes in certain census blocks in Missouri.

Qualifying areas include “distressed communities,” as defined in Missouri statute, and eligible applicants include any taxpayer who incurs eligible costs for a new residence or rehabilitates a residence for owner occupancy that is located in a designated area.