Tax Breaks for Historic Homes – Mills Act 2020 Application Cycle Open Now!
What you need to know about the Mills Act
The 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. Enacted in 1972, the Mills Act legislation allows local jurisdictions such as San Francisco to enter into contracts with owners of qualified historic properties who actively participate in the restoration and maintenance of their historic properties while receiving property tax relief. Property owners who participate in the program adhere to a schedule of maintenance repairs and upkeep on their historic property for the duration of the contract, which spans ten years and self-renews at the end of each year. In exchange, the property owner is entitled to an alternate evaluation of the property for tax purposes, which usually results in a reduced property tax bill.
Interested in more information and wondering if your property qualifies? Please see the following link: https://sfplanning.org/resource/mls-application or contact us at CPC.MillsActInfo@sfgov.org or 415.575.8728 for more information.