If you are thinking about buying or live in a historic property you may be elligible for significant state tax credits for preserving or rehabilitating your home.  The tax credit is up to 20% of qualifying expenses with a maximum of $50,000 per qualifying property.  No construction can begin prior to approval for the tax credit, and the state is very strict about this.  To see if your home qualifies and to learn more about the process visit http://www.denvergov.org/preservation/StateIncomeTaxCredits/tabid/434056/Default.aspx