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.

Sunday, March 9, 2008

Value of Historic Designations

In 2006, the historic designation practice came under public scrutiny when citizens and local government officials clashed over a proposal to assign H-1 zoning to the adjoining neighborhoods of Hollywood Terrace and Mount Vernon. Home owners fearing a limitation to exercise their private property rights protested the zone change, while preservation proponents championed the method as a way to save unique examples of architectural style. No argument in the debate over the recent proposed districting addressed the possible price effect H-1 could have on property values. Using a hedonic price analysis, this study reveals that for property values assessed in 2003, a historic district location added a 19% to 31% increase to the value of a residence. Age within a historic district mattered as well, with older homes benefiting from H-1 districting the most. The models considered a range of other attributes that impact a property’s worth, such as age, square footage, and amenities, in addition to the specific application of historic zoning.