How the Mills Act Program May Assist in Funding Your Preservation Project
The Mills Act program is a California state program that allows local governments to enter into contracts with property owners of historically significant buildings that reduces their property taxes to aid in funding repairs and maintenance of their properties. Property owners who participate in the program may receive a reduction in property taxes, with the exact amount of the reduction being determined after the Mills Act contract is awarded.
Providing Financial Incentives
The Mills Act is designed to encourage the preservation of historic and architecturally significant buildings by providing financial incentives to property owners. It is important to note that the program’s details and eligibility criteria vary from city to city, and it is necessary to check with your local government for specific information.
Contracts may provide up to a 50% reduction in property taxes for a period of 10 years with the money saved intended for restoration, repairs, and replacement of historic exterior features and fixtures. Contributing properties within designated historic districts and designated historic landmark properties are eligible to apply for the Mills Act program.
Forming a Mills Act Work Plan
In order to apply, a work plan outlining the restoration and repairs must be submitted with the application. Your Mills Act work plan can include anything that will preserve the historic exterior architectural features as well as the structural integrity of the historic building. This can include restoration to the wooden windows, original neon building signage, decorative plaster, foundations, porches, roofs, chimneys, and other historic architectural features.
Expert Assistance with the Process
Whether you have a historic multi-use property, a beautiful Spanish revival, an elegant Victorian home, a cozy Craftsman bungalow, a stylized ranch house, a Mid-century modern gem, or one of the many other historic style properties, a Mills Act contract may be exactly what you need to fund your restoration project.
Historia Design & Consulting has the expertise to help owners of historic properties complete their historic property survey, work plan, and Mills Act applications. You can find more information about the Mills Act at your local government office or website to determine if your historic property qualifies.
Contact us to get started.