Are there benefits to property owners in Local Historic Districts?
Structures within Local Historic Districts and Local Historic Properties may also be listed on the State or National Register. When that's the case, homeowners may apply for the Historic Homes Rehabilitation Tax Credit to help with repair and maintenance, and commercial owners may apply for the Historic Rehabilitation Tax Credit, both through the State Historic Preservation Office. See the SHPO website for criteria, qualifications and limitations for each program. Similarly, municipalities and non-profits may be eligible for grants from the Connecticut SHPO or from Preservation Connecticut.
Yes! Cohesive and well-regulated Local Historic Districts can be one of a community's most valuable attractions. The preservation of historic areas can attract tourist dollars and makes good economic sense. A study of Connecticut Local Historic Districts and Property Values has shown that property values in local historic districts generally increase at a greater rate than those in similar neighborhoods without LHD designation and protections. A historic district can also increase property values in surrounding neighborhoods by attracting and generating increased sales tax revenues. Developers and new residents can feel confident investing in communities with historic districts because they enjoy a level of consistency and protection.
Local Historic District regulations can also enhance the potential for business recruitment. Businesses are more apt to anchor in communities that offer their workers and customers a higher quality of life experience. Local historic districts featuring well maintained adapted historic buildings are commonly found in walkable communities, are inherently “green,” and are visually interesting.
Finally, a less tangible but no less meaningful result is the protection of an area’s history and character, often resulting in a sense of community pride in honoring what came before.
People from all over the country are drawn to the charm of Connecticut’s small towns and historic city centers. People come to our historic districts as tourists, business owners and many have even made the decision to stay as residents. Historic districts can serve as economic engines for communities while preserving the culture and history of a place for future generations.