Laguna Beach has a large inventory of older historic homes that were built at the turn of the century. Many love these older homes for their historic charm and architectural details. Others seek these homes out for their tax savings if they are covered under the Mills Act. So what exactly is the Mills act and how does it save a homeowner money? First, the Mills Act is an National organization that is set out to preserve these historic homes from destruction and modification. They work with the state and federal government in lowering a homeowners tax base in care of these homes. Laguna Beach has a lot of older homes but they are all not on the Mills Act. A resident must submit an application to the Mills Act organziation to get approved before any tax savings can begin. Once approved the Mills Act will determine the annual cost for the taxes on the property which are normally a lot less than the normal tax rate in California.
Currently, there is one home on the market that qualifies for this program in Laguna Beach. The home is known as Villa Rockledge and was built in 1921 on the ocean. We have posted a couple photos here of the home and it truly is a magical place. The property is on the National Registry and approved for the Mills Act tax savings. The home features 4 guest villas with a total of 12 bedroom and 8,065 square feet of living space. The grounds are really amazing and are built right on the cliff side with direct access down to the ocean. It's on the market for $30 million dollars. For those interested in learning more about homes covered under the Mills Act please contact us at 949355-1622.