Save Historic Tax Credits
The Fight for Historic Tax Credits
The Historic Tax Credit program allows a tax credit equal to 25% of qualified expenditures associate with a historic redevelopment project. The Historic Tax Credits are available to a project of any size, and can be used for both commercial and residential purposes. In St. Louis alone, Historic Tax Credits have been responsible for the dramatic redevelopment of downtown.
Powerful Economic Stimulus
HTCs create jobs and result in additional income for Missouri taxpayers. In fiscal year 2007, the historic preservation credit put over 4,900 Missourians to work. According to the foremost preservation economist in the United States, historic preservation credits have resulted in a total of 40,000 jobs since 1998.
VIDEO VOICES: Saving Historic Tax Credits
There is legislation being debated today in the Missouri State Legislature that would put a cap on a program, that more than any other state program, has contributed to the revitalization of the City of St. Louis over the past decade. The attacks on the state’s Historic Tax Credit program are short-sighted and threaten to put the brakes on development activities in neighborhoods and downtowns all over the state.
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