Support the Ohio Historic Preservation Tax Credit
Dear Ohio historic preservation advocate,
Last year, the Ohio General Assembly charged the 2020 Tax Policy Commission to study Ohio’s various tax policies and report back to the General Assembly.
Next up is a review of the Ohio Historic Preservation Tax Credit program. Since everyone cannot testify in support of the credit, please sign this petition to show your support for the Ohio Historic Preservation Tax Credit. We want to let the General Assembly know you value this historic tax credit program and recognize the significant impact it is having in Ohio.
The Ohio Historic Preservation Tax Credit program is an essential tool for the revitalization of downtowns, large and small, all across Ohio. It is creating vibrant places to live and work, helping to attract and retain young people and entrepreneurs of all ages. To date, 152 buildings have been rehabilitated in 52 communities across the State of Ohio. Here are some facts about the tax credit that you should know:
- 4,463 residential units created.
- $290.5 million in tax credits resulted in $1.94 billion in total investment.
- 209 buildings returned to tax-generating, income-producing assets.
- 9,000 construction jobs between 2008-2015, with many more to come.
- 14,350 long-term operational jobs.
The Ohio Historic Tax Credit is the only tax credit in Ohio that requires a Cost Benefit Analysis as part of the application process.
The Ohio Historic Preservation Tax Credit has a conservative ROI of $6.20 for every $1 in credits.
The Ohio Historic Preservation Tax Credit has provided many catalytic impacts to neighborhoods surrounding completed projects. The tax credit pays state and local government back in increased property, sales, and income taxes.
If you support the Ohio Historic Preservation Tax Credit, and think it is a valuable tool for Ohio’s future, please sign this petition to let your voice be heard in the General Assembly in Columbus.