Pennsylvania is synonymous with American history, which the state quite rightly wears on its sleeve. And in many ways, the state government embraces that in policies aimed at preservation of historic buildings, districts, land and sites of important events.
Unlike some other states that were among the first 13, however, Pennsylvania doesn’t have a program specifically to help preserve privately owned historic homes.
Republican state Reps. Joe Ciresi of Montgomery County and R. Lee James of Venango County hope to change that. They plan to introduce a bill that would expand the state’s historic preservation tax credit to include those homes.
Now, the credit applies to projects that preserve historic properties by converting them into income-generating properties. The idea is to ensure that the credit produces an economic benefit.
In the 2021-2022 fiscal year, the Department of Community and Economic Development issued
$5 million in historic tax credits for 25 projects worth about $177 million.
Ciresi and James are correct in their assertion, however, that private home historic preservation also produces economic benefits in terms of the projects themselves, even if they do not produce commercial value. They point to a credit that Maryland passed in 1996, which has helped generate millions of dollars in construction on 4,000 preserved properties.
Lawmakers should approve the credit to help private homeowners of historic properties honor Pennsylvania’s rich historic legacy.
— The Citizens’ Voice, Wilkes-Barre via TNS