Date of Award


Document Type


Degree Name

Master of Science (MS)


Historic Preservation

Committee Chair/Advisor

Amalia Leifeste

Committee Member

Kristopher King

Committee Member

Brittany Lavelle Tulla

Committee Member

Richard Sidebottom


The historic rehabilitation tax credit, in its many forms, is the single greatest driver of historic preservation investment in the United States. Despite this, very little research has been done regarding the secondary effects of historic tax credit leverage. The goal of this thesis is to assess the impact that substantial historic tax credit projects have had on the value of the properties that surround them in the state of South Carolina. Property tax assessment records were solicited from three different county governments within South Carolina to analyze the change in the assessed value induced by the introduction of tax credit projects. The data demonstrates that the properties located within 1,000 feet of the tax credit project appreciated at rates over two-to-three-and-a-half times greater than the rest of the properties in the cities in-which they were located following the tax credit rehabilitation. Four of the six case studies reflect the trends observed in the established literature wherein properties experienced greater rates of appreciation with increased proximity to tax credit-leveraging sites (those within 500’). Two of the six case studies demonstrate an inversion of the expected behavior wherein the properties in the fringe impact zone of the tax credit project experience greater rates of appreciation than the properties located nearest to the rehabilitated parcel (those between 500’ and 1000’ versus those within 500’). This study is significant as it represents the first comprehensive study of the broader impacts of historic tax credit-use ever conducted in the state of South Carolina and because it contributes to the limited body of literature that explores the impact of tax credit-leverage and its impact on property values.



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