Allows counties and municipalities to adopt ordinances providing special property tax assessments to encourage the rehabilitation of historic buildings. Local governments may place a temporary ceiling on the assessed value of a historic building that has been rehabilitated. Project work must be approved as appropriate for the historic property by a reviewing authority and meet a minimum expenditure threshold set by the local government between 20 and 100 percent of the fair market value. Includes multiple Cod of Laws: 4-9-195, 5-21-140, and 12-120 to 126.
