05/05/2026
Here's why Restoration Tax Abatement isn't just good for property owners and business owners. It's good for all of us!
Public incentives foster private initiatives that guarantee resilient communities.
Without the RTA program and other tax incentives, here's what happens: buildings sit vacant or in disrepair because renovation costs don't pencil out. Neighborhoods decline. Blight is contagious and it spreads quickly.
With an RTA, the math changes. Property taxes are still paid but the property value is FROZEN at the pre-improvement value providing breathing room for the property or business owners to know that they won’t be penalized through increased property taxes for INVESTING in a renovation and IMPROVING the building’s value.
Suddenly it makes financial sense to save that 1920s warehouse, that 1850s shotgun, or that aging commercial or residential building built in the 1970’s. (Yes, RTA applies to buildings at least 50 years old in historic, downtown, cultural and economic districts. Not just “historic” buildings.)
When a city provides short-term incentives there are priceless long-term gains.
What does renovation investments mean for communities and neighborhoods?
Blighted buildings become productive properties.
Architecture gets preserved.
Neighborhoods improve instead of decline.
Jobs are created.
New sales taxes is generated.
The community keeps its character and charm.
What’s important here is that property taxes are still paid, but the owner doesn’t see an immediate increase in their property tax. The property value is frozen for a least 5 years and they PAY taxes according to the pre-improvement value and not the post-construction assessed value.
And those renovated commercial buildings? They are open for new businesses and jobs which create more wealth in our communities and increase sales taxes in a city’s coffer.
We've guided lots of RTA projects through the process and see, first-hand, the benefits of Restoration Tax Abatements because incentives work for communities. Everybody wins!
Nicole Webre