NASHVILLE, Tenn. (AP) — The Metro council is considering a tax break for owners of historic homes who choose to improve their properties.
The idea is to encourage owners to preserve historic homes rather than tearing them down.
If passed, the resolution would create a Historic Property Review Board that could consider applications for the program.
The idea was proposed by Councilman Jeff Syracuse. He says there are too few incentives to prevent historic properties from being demolished as land value soars.
Syracuse says the measure could help save historic neighborhoods like Music Row.
The only other Tennessee county to implement a similar initiative is Rutherford. That program just started in September, and no one has taken advantage of it yet.