This study looks at how local historic district designation affects assessed values. Both designated and non-designated neighborhoods are used in this study to determine if historic designation is linked to an increase in assessed value. The methodology for this study is derived from a combination of previous studies that are discussed in this report. A case study of Indianapolis is used to test the hypothesis. Neighborhoods in Indianapolis are used to draw conclusions for the study. This study attempts to determine if historic district designation increases the assessed value of residential structures. I hypothesize that assessed values in designated districts will rise faster than similar non-historic districts. I also expect to find that assessed values in non-historic districts will rise at a slower rate than the designated neighborhoods.