OPELOUSAS, La. ( KLFY ) — Over the past 20 years, the Louisiana historic tax credit program has helped small towns and downtowns across the state breathe new life into their vacant properties. But with the special legislative session kicking off this week in Baton Rouge, there is a chance those tax credit programs could be eliminated.
Brian Davis with Louisiana Trust for Historic Preservation said the historic tax credit program transformed Louisiana’s commercial and tourism areas by providing tax breaks up to 35% for people who purchase or own buildings in historic districts, making it easier and more affordable to bring buildings back to life.
“We’re really concerned about the potential loss of the state historic tax credit,” Davis said. “It has become one of the nation’s leading tax credit models for revitalizing historic commercial buildings. And these are buildings that are income-producing.”
The impact of eliminating that tax credit program could be felt almost immediately in Opelousas, where downtown revitalization has been a major priority for the past several years. In fact, that tax credit program was a major selling point behind getting buyers to buy the vacant properties and bring them back to life.