The Benefits Of Owning A Historic Home In Coral Gables

From the City of Coral Gables:

August 5, 2020

The City of Coral Gables is widely known for the preservation of its historic landmarks. In 1973, the City became the first in Miami-Dade County to enact a Historic Preservation Ordinance, which formally addressed the community’s interest in preserving its historic resources. The goal of this ordinance is the preservation of structures, sites, objects, and districts within Coral Gables that reflect architectural, historical, and/or cultural significance. To date, many homes in Coral Gables have been designated as historic landmarks or included in local historic districts and listed on the Coral Gables Register of Historic Places. Owners of these historic homes can apply for ad valorem tax incentives in conjunction with qualifying restoration work performed on their properties. This incentive provides for Miami-Dade County and the City of Coral Gables ad valorem taxes to be frozen at the rate paid prior to any historic home improvements for a period of 10 years. In addition to the tax incentive, owners of historic homes can be proud that their residences are part of the legacy that makes Coral Gables a unique place to live. To view a list of historically designated properties, click here.

This press release was produced by the City of Coral Gables. The views expressed here are the author’s own.