The Villa Riviera is a historic property that qualifies for Mills Act tax abatement. File photo.
The City of Long Beach will host two workshops for those interested in learning how to qualify and apply for tax benefits while preserving the city's designated historic landmarks as part of the Mills Act Property Tax Abatement Program (Mills Act), an economic incentive program, according to a release issued Monday.
“The Mills Act helps to preserve the City’s historic structures, and provides considerable tax savings to property owners,” said Mayor Robert Garcia in a statement. “This program illustrates our commitment to protecting the City’s cultural resources and historical identity.”
To provide more opportunities for eligible historic property owners, the Long Beach City Council approved revisions to the Mills Act on January 6 of last year, according to the release. A state program run by local governments, the Mills Act offers economic incentives to owners of historic or designated landmark sites upon agreement to rehabilitate, restore and protect their property.
Under the Mills Act, private owners can receive tax benefits for properly maintaining and preserving the historical and architectural character of the property for an initial 10-year term.
A Pre-Application Workshop will focus on an overview of the act’s eligibility requirements and will also address the application process and how to calculate individual property tax savings. The following Application Workshop will give more specific information for those planning to proceed with the application process.
The Mills Act is especially advantageous for recent buyers of historic sites or owners who have recently had a property transfer or tax re-assessment, according to the release.
Nine Mills Act contracts were awarded for historical properties last year, a mix of single-family homes, commercial properties and mixed-use apartments and condominium buildings, according to the release. In Long Beach, currently 42 properties have Mills Act contracts.
The Pre-Application Workshop will take place on Saturday, March 12 at 10:30AM at the Long Beach Public Library Lobby, located at 101 Pacific Avenue. The Application Workshop will take place on Saturday, March 26 at 10:30AM at the Dana Neighborhood Library Meeting Room, located at 3680 Atlantic Avenue.
All potential applicants or their representative must attend the Pre-Application workshop. Mills Act applications are processed once a year, with the deadline to submit Friday, April 1.