So You Think You Can Live in a Historic San Diego Mansion (For Less)? Enter the Mills Act!
Living in a sprawling Victorian or a charming Craftsman bungalow in San Diego sounds pretty darn idyllic, right? Ocean breezes, whispering palm trees, and all that jazz. But those historic beauties can come with a hefty price tag, especially in the property tax department.
Fear not, fellow history buff (or secret cheapskate)! San Diego has a little-known program called the Mills Act that can turn your dream of historic digs into a reality (or at least make it a lot more affordable).
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| What is The Mills Act In San Diego |
Mills Act: History with a Discount!
Named after San Diego's own Senator James Mills, the Mills Act is basically a handshake deal between you and the city. You agree to love and cherish your historic property, and in return, you get a sweet discount on your property taxes. Win-win!
Think of it as a Netflix subscription for your house, but instead of getting access to cheesy reality shows, you get access to a tax break and the satisfaction of preserving a piece of San Diego history.
How Does This Magical Discount Work?
Here's the gist: Normally, your property taxes are based on the market value of your house. But with the Mills Act, the value is based on the income the property could generate if it were rented out.
QuickTip: Read section by section for better flow.
For historic homes, that income tends to be lower than the market value. So, whaddya know, your property taxes go down too! It's like finding a twenty in your old jeans – but way better, because it keeps happening year after year.
But wait, there's more! The Mills Act is a ten-year contract, so you know you can enjoy your historic home and tax savings for a good chunk of time.
Is Your Abode Mills Act Material?
Not just any house qualifies for this sweet deal. Your property needs to meet some criteria, like being designated as a historical landmark or being located in a historic district.
Think of it like joining an exclusive club. Your house needs to be historic enough to be considered cool enough to hang out with the other historical properties.
Tip: Read the whole thing before forming an opinion.
But don't worry, San Diego has tons of historic neighborhoods and properties. Chances are, your charming little bungalow or Victorian dream house might already be on the list.
Alright, Alright, I'm Sold! How Do I Get This Mills Act Magic?
Hold your horses, there, partner! There is a bit of a process involved. You'll need to contact the City of San Diego and the County of San Diego to see if your property qualifies and to get the application process rolling.
Remember: Being a historic homeowner comes with some responsibility. You'll need to agree to maintain and preserve your property according to some specific guidelines. Think of it as the price of admission to the coolness club.
Mills Act FAQs: Quick Hits for the Busy History Buff
Still have some lingering questions? Don't fret! We've got the answers to some frequently asked Mills Act questions:
QuickTip: Read line by line if it’s complex.
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How do I find out if my property qualifies for the Mills Act?
Contact the City of San Diego Historical Resources Board and the County of San Diego Historical Resources Program.
Is there a cost to apply for the Mills Act?
Yes, there are some fees associated with the application process.
Tip: Let the key ideas stand out.
What if I want to sell my house while I'm in a Mills Act contract?
The new owner can apply to continue the Mills Act contract.
What are the responsibilities of a Mills Act property owner?
You'll need to maintain and preserve the property according to specific guidelines set by the City and County.
Is the Mills Act a tax break or a deduction?
It's a tax break that lowers your property tax assessment.
So there you have it! The Mills Act: your key to historic living and a lighter tax burden. Now get out there and find your dream historic property – San Diego's full of them!
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