What is the Mills Act for Historic Preservation?
Posted by: raindrop 4 years, 12 months ago
The Mills Act is California Legislation passed in 1971 designed to encourage the preservation of Historic Properties.
Essentially, the Mills Act is a contract between a property owner and the City in which property tax reductions are exchanged for the property owners’ agreement to maintain the historic façade of a building. The Mills Act is named for Coronado’s own Senator Jim Mills who crafted the legislation.
To be eligible for Mills Act contracts, a property must be historically designated (local, state or national), and in the City of Coronado must be approved by the Historic Resource Commission for a Mills Act contract.
Mills Act contracts are for a minimum of 10 years, and transfer with the property. Historically in the City of Coronado, Mills Act property owners have enjoyed up to a 75% property tax reduction. More recently, in an effort to reduce the backlog of properties waiting for Mills Act contracts, the benefit has been reduced to roughly 50%.
The Mills is an ingenious way to help property owners maintain historic properties and to ensure that the historic fabric of a neighborhood is maintained.
For more information on the Mills Act, please give us a call (619)435-0145 or email us at firstname.lastname@example.org.
Share on Twitter Share on Facebook
San Diego Homes
- Looking for a Coronado Rental? Here are Tips for finding a home!
- Which Famous Author Visited 550 A Ave?
- Build Your Dream House in the Coronado Cays!
- After Years in the Making, Imperial Beach's New Shopping Center is Here!
- Making a Difference With San Diego’s Voices for Children
- Blog (338)
- Buyer's Guide to Buying a Home (11)
- DIY Homeowners (54)
- FAQ Buyer (35)
- FAQ Property Management (7)
- FAQ Renters (7)
- FAQ Seller (32)
- FAQ Short Sale (6)
- Friday Favorites (4)
- Home Projects (58)
- Listings (132)
- Local Info (73)
- Market Matters (34)
- Open House (18)
- Rentals (18)
- Staging (1)
- Things to do (76)
- Tips (4)
- Tips for Buyers (7)
- Tips for Homeowners (4)
- Tips for Renters (4)
- Tips for Sellers (5)
- Tips/FAQs (1)
FeedsRSS / Atom
Latest NewsSeptember 18, 2017 Looking for a Coronado Rental? Here are Tips for finding a home! September 14, 2017 Which Famous Author Visited 550 A Ave? September 11, 2017 Build Your Dream House in the Coronado Cays! READ MORE
Our initial experience with you, especially with your demonstrable expertise, knowledge, and willingness to both educate and work with us regarding the market and related considerations particular to Coronado, resulted in a gratifyingly helpful and positive experience for us.—Robert R. READ MORE