Tax breaks could save a number of historic buildings

With so many historic building in and around Detroit, preservationists are looking for bigger cuts to save these storied structures.

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Currently, Michigan building owners can combine federal and state tax credits to a maximum of 25%, said Norm Tyner, a professor of urban and regional planning at Eastern Michigan University who has an 1830s-era Greek Revival house in Ann Arbor.

That would mean that "for every $100 we spend on this house, we get $25 off our state taxes," Tyner said.

Under the legislation making its way through the state Senate, people who buy historic structures would be allowed to combine those same state and federal tax credits up to 45%, nearly doubling the potential savings.

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