Why would anybody want to own buildings in a district listed on the State & National Registers of Historic Places?
There are lots of reasons. Listing on the National Register recognizes the importance of these properties to the history of our country and provides them with a measure of protection. In addition, owners of income producing properties may qualify for federal income tax benefits. Properties owned by municipalities and not-for-profit organizations are eligible to apply for state historic preservation matching grants See also Benefits of Historic Districts and Landmarks for a longer list of reasons. Some studies have shown that property values rise faster in designated historic districts than in similar, nondesignated neighborhoods. This may be because owners have the assurance that their neighbors will be unable to make changes that would be detrimental to property values. Does the owner of a building in a historic district listed on the State and National Registers of Historic Places need to get approval from the City (or anybody else) before doing any exterior repair and improvement? O
