Past, present and future : evaluating the Massachusetts Historic Rehabilitation Tax Credit as a tool for promoting historic preservation and economic development

The first half of the 20th century saw very little interest in the preservation of historic properties; indeed, much of the nation's historic building stock was at risk of being lost forever, as the pressures of mid-century urban renewal threatened the historic city center, while historic buildings in suburban and rural communities across America were seen as outmoded, expendable, and too expensive to maintain. The creation of the Federal Historic Preservation Tax Incentive in 1976 did much to change this dire situation, breathing new life into our nation's aging built heritage, making preservation an attractive and profitable option for developers and government alike. During the thirty-plus years since it was put into action, the Federal Historic Preservation Tax Credit, along with analogous rehabilitation tax credit programs at the state level, have played a significant role in saving thousands of historic buildings by providing an appealing incentive to do so. In 2003, the Massachusetts legislature signed into law its own such program, the Massachusetts Historic Rehabilitation Tax Credit (MAHRTC). With its stated goals to promote historic preservation and economic development in the Commonwealth, the MAHRTC provides an income tax credit equal to up to 20% of eligible costs of approved rehabilitation to income-producing properties. Since its introduction four years ago, the program has already received a lot of attention, but has yet to undergo the careful review that it deserves.

Department dc:contributor.department

Massachusetts Institute of Technology. Dept. of Urban Studies and Planning.

Grantor dc:publisher

Massachusetts Institute of Technology

Year dc:date.issued

2008

Author dc:creator

• Emmitt, Kathryn Courtney

Advisor dc:contributor.advisor

• Ezra Haber Glenn.

• Urban Studies and Planning.

Statement dc:rights

• M.I.T. theses are protected by copyright. They may be viewed from this source for any purpose, but reproduction or distribution in any format is prohibited without written permission. See provided URL for inquiries about permission.

Licence dc:rights.uri

• http://dspace.mit.edu/handle/1721.1/7582

Language dc:language.iso

eng

Handle dc:identifier.uri

http://hdl.handle.net/1721.1/45371

OAI identifier oai:identifier

oai:dspace.mit.edu:1721.1/45371