If you plan major improvements to your historic home in the Canemah National Register District or if you are individually listed on the National Register, the State of Oregon offers a tax freeze program to help you do it right.
For substantial commercial, industrial, and rental housing rehabilitation projects, which comply with the Secretary of Interior's standards, federal tax credits of up to 20% are available. The application process is fairly complicated (you must be on the National Register or be a contributing building in a National Register Historic District), but the tax credits can make the difference in a successful project. The process involves review at the state level.
More information can be obtained from:
Oregon Parks and Recreation Department
State Historic Preservation Office
725 Summer Street NE, Suite C
Salem, OR 97301