March 25, 2019, WGNS Radio
Rutherford County is the first in Tennessee to offer tax incentives for preserving historic properties.
The concept started to take shape earlier this year as County Historian Greg Tucker requested that a historic property review board be established to provide tax abatement.
The concept is to give property tax breaks for residential, commercial and industrial that qualifies.
City Councilman Eddie Smotherman talked about the unique concept in the 8:00 o’clock Monday morning segment, while Historian Greg Tucker continue at 9:00AM. And then on Wednesday morning at 8:10AM, County Mayor Bill Ketron will continue the historical tax abatement conversation.
For example, a partial restoration could earn a 10-year abatement of property taxes. Plus, the program is transferable to future owners as they continue to make improvements with the historic structures.
Local government leaders are hoping that other counties in the Volunteer State will follow Rutherford County’s lead and encourage developers to renovate and preserve history.