What Local Historic District DOES NOT do: · Does not regulate paint colors · Does not require repairs or renovations to be made · Does not increase taxes beyond normal increases for the City or County · Does not prevent additions · Does not prevent non-contributing homes from being demolished · Does not require use of historic materials or historic building methods · Does not require that you open you home to the public · Does not restrict routine maintenance of properties
What Local Historic District DOES do: · Recognizes that Oakhurst has a distinctive historic character important to the overall character of the City of Decatur · Encourages creative and compatible development with historic areas · Requires that a Certificate of Appropriateness be obtained for exterior changes to contributing properties, demolition of buildings, and new construction. · Applies only to major renovations to the exterior of your home. Interior renovations are not restricted.

Friday, July 13, 2007

Historic Districts Are Good for Your Pocketbook

Historic Districts Are Good for Your Pocketbook: The Impact of Local Historic
Districts on House Prices in South Carolina (Jan. ‘00) - prepared for the South Carolina Department of Archives and History by John Kilpatrick of the University of South Carolina’s College of Business.

“A repeat sales methodology was used to measure the effect of local districts on house prices over time. The results show that local historic district designation had a definite positive impact. House prices increased faster in the protected neighborhoods than in the market as a whole. The annualized rate of return for houses in the two local districts was 7.3%, while for the entire Columbia market it was 5.8%. Therefore, the average homeowner in one of the local historic districts enjoyed a per year gain in house value 26% greater than homeowners outside the