INDEX OF TAX INCENTIVES
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SUMMARY OF TAX INCENTIVES
CITY OF HOUSTON LANDMARK (LOCAL)
Total HCAD Value: $300,000
If the owner of this historic landmark designated building spends:
$ 50,000 on improvement = tax benefit of 50% of City Property Taxes for 15 years on $50k
$ 75,000 on improvement = tax benefit of 75% of City Property Taxes for 15 years on $75k
$100,000 on improvement= tax benefit of 100% of City Property Taxes for 15 years on $100k
Once the work has been completed and/or the minimum amount is spent to qualify, the applicant may
apply for the Property Tax Exemption provided the project was granted a C 0f A. Once HCAD has reass-
essed the improvement as a result of the rehabilitation work on the building, then the exemption applies
to the new improved value for 15 years. Should the improvement value be increased by HCAD subse-
quently after the exemption is granted, the property owner must pay the property taxes on increases
thereafter during the 15 year exemption period.
SEE TABS IN UPPER RIGHT CORNER OF THIS PAGE FOR INFORMATION ON HARRIS COUNTY, STATE AND FEDERAL TAX INCENTIVES.....
Houston Studios Building (under arrow) 1912
Contact: H. MILTON HOWE
The 3-story building would make ideal office space for any business that wants large open spaces with a high-tech/industrial look. Creative enterprises will especially appreciate the ambiance of the building. Perfectly suited as office space for Architects, Advertising Agencies, High-Technology start-ups, a Downtown Medical Center, or support facilities for the Ballet, Opera or Alley Theater. It would also work great as a Fashion and Design Center with showrooms, offices and common-use areas for productions and displays. Trendy offices for brokerages or traders. Employment Agencies...especially agencies dealing with high-tech jobs. Any of these uses could be complimented by using the basement as a Jazz Club/Bistro at night and sharing the available parking.
ALTERNATIVELY, a downtown Entertainment Center could be created using the soundstage as a Performance Venue/Nightclub and the rest of the building for Shops, Bistros and Bars to support THE MAIN DRAW.