WebMills Act Contracts may be canceled by the owner at any time. The owner will need to submit a letter to City Historic Preservation staff, explaining their desire to end the Contract. The Mills Act Contract has a term of 10 years and automatically renews at the end of … WebEnacted by the State of California in 1976, the Mills Act authorizes local governments to enter into contracts with owners of privately owned historical property to insure its rehabilitation, restoration, preservation and long-term maintenance. In return, the property owner enjoys a reduction in property taxes for a given period.

City of Pomona Mills Act

WebThe Mills Act is the single most important economic incentive program in California for the restoration and preservation of qualified historic buildings by private property owners. The … WebMills Act applications are only accepted between Jan. 1 and March 31 each year. Properties must be historically designated by Dec. 31 of the prior year to be eligible to … seminole county basketball

Incentives & Resources Los Angeles City Planning

WebOn June 8, 1976, the voters of California approved Proposition 7 which amended section 8 of article XIII of the California Constitution. This amendment requires that enforceably … WebThe Mills Act provides for potential property tax savings on a property that is subject to a historical property contract. Mills Act properties are to be valued using the rental income and expense that could be expected from that property rather than using comparable sales to establish the assessed value. WebThe Mills Act provides that property that is subject to a historical property contract be valued using the rental income and what could expected frombe that property rather than using … seminole county benchmarks 1988