WINSTON-SALEM, N.C. (AP) - Winston-Salem city officials are divided on whether to grant landmark status to a home built for the Depression-era president of Wachovia Bank, and restore a property tax break to a tobacco heir.
The Winston-Salem Journal reports that council members are set to vote Monday on extending a 50% tax break for the former home of Robert Hanes.
Historians say the estate deserves the designation. Hanes was president of Wachovia for 25 years and was appointed an adviser to West Germany after World War II.
Others argue wealthy residents shouldn't get the break.
The home is owned by Sandra Reynolds, the widow of William Reynolds, an heir to the R.J. Reynolds Tobacco Co. fortune. Landmark status was awarded in 1997, but in 2010, city officials said it was done improperly.
Information from: Winston-Salem Journal, http://www.journalnow.com" target="_new">http://www.journalnow.com
Copyright 2011 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Source: http://www.wmbfnews.com/Global/story.asp?S=14936248
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