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Different property owners with Mills Act contracts may receive different property  tax reductions depending on how long they have owned the property and the property's existing assessed value. The City does not control or set the assessed value of property under the Mills Act contract. This value and the ultimate property tax paid by the...

Once approved, a formal preservation contract agreement is to be in effect for a minimum of ten years, automatically renewed every year, and automatically transferred to new property owners when the property is sold or exchanged. Should the property owner maintain the property in accordance with the terms of the contact, the property owner is...