Historic Tax Credit Quantified

A new study quantifies a substantial return on historic tax credits in Rhode Island.

1 minute read

April 8, 2005, 1:00 PM PDT

"The study, performed by the real estate consulting and investment firm of Lipman, Frizzell and Mitchell (LF&M) of Columbia, Maryland, is based on 111 projects enrolled in the program through September 23, 2004 representing a proposed investment of $484.91 million.

...The LF&M study concludes that the state's multi- year investment in the tax credit, estimated at $145.47 million, is generating a total of $795.25 million in economic activity. Put another way, each $1 of state tax credit investment is leveraging $5.47 in total economic output. Additionally, the program is estimated to add $242.5 million to the tax base of local communities, and to generate on a present value basis $179.4 million in additional property tax revenue and $42.14 million in sales and income tax revenue."

Thanks to Laura Kranz

FULL STORY: Study Quantifies Substantial Return on Historic Tax Credit

Friday, April 8, 2005 in Grow Smart RI

History / Preservation Rhode Island

I love the variety of courses, many practical, and all richly illustrated. They have inspired many ideas that I've applied in practice, and in my own teaching. Mary G., Urban Planner

I love the variety of courses, many practical, and all richly illustrated. They have inspired many ideas that I've applied in practice, and in my own teaching.

Mary G., Urban Planner

Get top-rated, practical training

Start Learning

Advertise with us

Urban Design for Planners 1: Software Tools

This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.