Do you own a great historic building in Los Angeles? Is your property an existing City of Los Angeles Historic-Cultural Monument or a contributing structure in a designated Historic Preservation Overlay Zone? Are you interested in a financial incentive that can help you rehabilitate, restore and maintain your building? The City of Los Angeles can help.
Mills Act participants may realize substantial property tax savings each year for recently improved or purchased older properties because valuations of Mills Act properties are determined by an Income Approach to Value rather than by the standard Market approach to determining appraised value.