Laserfiche WebLink
Historic Preservation Agreements (Mills Act Contracts) <br /> o The property must be on a local, state or national register of historic <br /> places. <br /> o The property must be privately owned. <br /> o Local municipalities may enter into a 10-year contract with the owner of an <br /> historic property. In exchange for restricted tax assessment, the owners <br /> agree to restore and maintain the historic property in accordance with the <br /> contract. <br /> o Property tax savings aid the owner in making the necessary repairs and <br /> restoration. <br /> o Contracts renew annually after the initial 10-year period, unless either party <br /> elects not to renew. <br /> o Contracts are recorded against the property and transfer with ownership of <br /> the property. <br />