The Exponent Telegram: Shinnston City Council Supports Historic Tax Credit Increase

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By Kirsten Reneau / The Exponent Telegram

Council members also unanimously approved a resolution in support of increasing the West Virginia Historic Tax Credit. Kovalck explained that in West Virginia there is a 10 percent tax credit if an individual or business takes on a historic building and rehabilitates it for another use.

“All our surrounding states have 25 percent tax credit to do the same thing, so developers would get a better tax break going to Ohio or Virginia to go revamp and build, and we want to support West Virginia to give it some competition with surrounding states,” Kovalck said. “A lot of our downtown, older buildings, we’re always talking about demolition, and anything we can do to combat that will be positive for the state and individual community.”

Read the full story at theet.com.

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