"Sweetening the soil" with Lime is beneficial to those of us that live here in the Pacific Northwest because of the heavy rains we experience in the winters that leach away any lime in the soil and leave of us with acidic soil. Most plants do actually prefer soil that is on the slightly acidic side, the pH scale is 1 through 14, 1 - 6 is acidic, 7 is neutral and
8 - 14 is alkaline. No matter what it is most likely beneficial to add lime to your soils but to make sure to have a pH soil test done.
Adding lime to the grass is a great way to prevent moss from growing through the year but doesn’t kill it which is a common misconception. There are a few common shrubs that people grow which prefer slightly alkaline soil such as Lilacs, Daphne cneorum and of course if you want to keep your mop head hydrangea (Hydrangea macrophylla) pink then you need to add lime to the soil.
Don’t go crazy and add a whole 40 lb bag to the base of the shrub just a couple of handfuls to the soil around the shrub in the fall and spring. Hopefully after doing this your plants will perk up and perform better. But always remember most plants/shrubs don’t like alkaline soil so don’t add it to the soil unless you really need to.