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<br />4.
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<br />What are the benefits of Historic Landmark or Historic District
<br />designation?
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<br />a. Local building inspectors must review building permit applications for
<br />use of State Historic Building code regulations. which grant code
<br />flexibility for designated historic landmarks and historically contributing
<br />structures within designated historic districts.
<br />b. Historically contributing structures located in a historic district are
<br />eligible for property tax relief. The City Council of Redwood City passed
<br />a resoLution establishing a policy to process what are known as Mills
<br />Act Agreements for officially designated historic properties in Redwood
<br />City.
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<br />The Mills Act is a California State law that provides for a reduction in
<br />property taxes for qualified historic properties. It represents a current
<br />use assessment for properties, known as "contract assessment",
<br />Property owners enter into preservation contracts with the City in
<br />exchange for property tax relief. The County Assessor is directed by
<br />State Law to adjust the value of the property downward to reflect
<br />restrictions placed on the property rather than assessing based on the
<br />market value. The restriction is that the property will be historically
<br />maintained.
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<br />A Mills Act contract term is for a minimum of 10 years. The contract
<br />provides for the preservation of a qualified historic property and, when
<br />necessary, restoration and rehabilitation. There would be at least one
<br />inspection ofthe property annually to assure compliance with the
<br />terms and conditions of the contract. The contract is binding on
<br />successors in interest in the property.
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<br />The City Council took its action in an effort to provide property owners
<br />with an incentive to maintain their historic properties and to further the
<br />City's Historic Preservation program. Property tax savings can be
<br />substantial for properties purchased after the passage of Proposition
<br />13 in 1976. Often benefits are minimal the first few years of a
<br />contract, but as the value of the property climbs, significant property
<br />tax savings may be experienced. Attached for your information is an
<br />example of a Mills Act tax adjustment
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<br />More detailed information regarding all aspects of this information sheet is
<br />available from Redwood City Planning Services at 650-780-7239.
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