The Houston City Council has approved a measure that would grant property tax exemption for owners of buildings assigned protected landmark status in the city. Officials hope the incentive will encourage historic preservation.
"The council approved a permanent, 100 percent tax abatement for commercial structures whose owners accept 'protected landmark' status for the buildings. Owners would have to refund any tax savings, with interest, if they tore down the building or altered its facade."
"'I think that's a big achievement for this city,' Mayor Bill White said. 'This step alone may do as much for historical preservation as things that required months of acrimonious council debate in prior administrations.'"
FULL STORY: New tax breaks approved for historical city buildings
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