Incentives are available for the rehabilitation of historic properties. The most common type of incentive is the tax credit, a dollar for dollar reduction of taxes for qualified property improvements.

Federal Rehabilitation Tax Credits
Website

HUD Low Income Housing Tax Credit
Website

New Market Tax Credits
Website

In addition, the State of South Dakota has a special incentive for the rehabilitation of historic structures within the state. The South Dakota State Property Tax Moratorium is available for properties that undergo a certified rehabilitation based on the Secretary of the Interior's Standards for the Rehabilitation of Historic Properties. The moratorium freezes tax assessments for eight years. More information is available at: http://history.sd.gov/Preservation/FundingOpps/SPTMOverview.pdf