Tax Credits – a tax credit is a dollar-for-dollar reduction in the amount of tax owed to the government. Tax credit projects create jobs and provide financial incentives to revitalize historic buildings. Federal and state tax laws offer tax credits for historic preservation projects that follow the Secretary of the Interior’s Standards for Rehabilitation of Historic Properties. The federal government offers a tax credit between 10 and 20 percent, which can be paired with the state tax credit. Preservation tax credits for residential properties are managed by History Colorado or your Certified Local Government (CLG).