The Historic Landmark Commission took a sweeping vote Monday night approving or denying a partial tax exemption for 500 properties in need of tax relief in order to encourage their preservation. The properties were awarded the tax relief in accordance with the result of the annual inspection that evaluates the upkeep of the property. The tax incentives for historic properties are significant. For landmarks designated between 2004 and 2011, the city places a cap on the property tax of either $2,000 or 50 percent, whichever is greater, of the ad valorem tax the city would otherwise levy on the property. Properties designated historic after 2011 have a tax cap of $2,500. There was a collective sigh of relief as the commission passed the results and people filed out of City Hall, relieved to have another year of historical zoning to look forward to.
Tax relief granted en masse at Historic Landmark Commission
