Historic Tax Credit Quantified

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

"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

Comments

Prepare for the AICP Exam

Join the thousands of students who have utilized the Planetizen AICP* Exam Preparation Class to prepare for the American Planning Association's AICP* exam.
Starting at $245
AICP CTP Storefont Display

The first online AICP* CTP exam prep class

Are you ready to take the AICP* Certified Transportation Planner exam?
Priced at $245 for May exam!
City Plate table setting

New Arrival! City Plates

City downtown cores printed on gorgeous decorative collectible porcelain plates.
$50.00
Planetizen Courses image ad

Planetizen Courses

Advance your career with subscription-based online courses tailored to the urban planning professional.
Starting at $16.95 a month