Homeowners want historic tax credit back


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Submitted: Wed, 03/11/2015 - 2:33am By:

WILMINGTON, NC (WWAY) — Could tax credits aimed at preserving history across the state be making a comeback? They will if the governor has his way. In his budget proposal Governor McCrory put back the historic preservation tax credit. Now all that’s left to do is for the legislature to pass it.

At a meeting at Temple of Israel Tuesday folks were discussing the extensive, award winning, restoration of the building. Though the temple got no tax benefits from the historic tax credit folks inside certainly did and had thoughts about its possible return. Folks were making the argument that it is not only good for homeowners but good for the city as a whole as well.

“We need that credit back, we need it back as quickly as we can get it because there are more buildings that need to be rehabbed,” said Paul Mason, a downtown homeowner.

He said he actually got his historic tax credit approved but he says just in the nick of time. Some lawmakers say the tax credit unfairly benefits developers on the backs of taxpayers. It’s now up to the legislature to bring it back.

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