Belvedere is poised to end tax incentives for historic properties

Belvedere plans to permanently stop handing out tax breaks to historic properties under a state program that’s reducing the taxed value of just 11 local homes by more than $40 million — without any assurances the owners are using their savings for maintenance and restoration as intended.

The City Council previously put new participation in California’s voluntary Mills Act program on pause last July but, at its March 11 meeting, expressed its desire to end local participation entirely as time consuming for staff and a waste of taxpayer money. A formal vote is expected at its next meeting, April 8.

If the resolution passes, the city would also immediately issue notices of nonrenewal for the five properties with more than 10 years remaining on their 15-year contracts.

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