Adapted from a post Tanya Keith wrote for Hat Trick Renovation, the blog for her company, where she works to restore historic houses in the urban core of Des Moines. -promoted by desmoinesdem
The current version of the Iowa Senate tax bill would reduce the Iowa State Historic Tax Credit from $45 million to $35 million, starting next fiscal year, and repeal the tax credit in 2025. That would be a huge loss for neighborhoods and main streets in Iowa. Many of our projects at Hat Trick Renovation are only viable because of state historic tax credits. Often older buildings need so much work, it can cost more to restore them than the building will eventually be worth. However, once restored, these buildings become beautiful, irreplaceable structures that will last far longer than modern day construction.
Not only are tax credits a vital part of our work in saving historic buildings in Des Moines, they are also good for the financial health of our state.