Category: Downtown Los Angeles

Why are They Trying to Stop You from Getting Mills Act Tax Benefits?

When they try to stop us from doing something, it’s a big sign that something is a big benefit for us, maybe not for them.  In this case, that something is Mills
Act homes.  So good that they don’t want us to have it? Because Mills Act saves homeowners 66% on property taxes.  These beautiful historic properties give about 2/3 of the property tax right back to us, so we get more resources to maintain these amazing pieces of timeless architecture.  That is like getting paid about $6,500 per year to live in an awesome historic loft.  That’s a super good deal.  NOW factor in the increasing benefits as property taxes increase over time, and, for long-term residents the benefits could add up to many tens of thousands of dollars, possibly more than $200,000 in property tax savings over a mortgage term.  That’s HUGE!  This is so good that they will try to stop it. The Mills Act deal must be renegotiated every 10 years.  #millsact #lofts #dtla

Just this week, Facebook (which has been on an appalling spree of censorship), told us that we can not advertise these properties unless we get special  permission (see “Enemy of Truth” below), and we must first register as a political advertiser. Well, they are having serious difficulties with the truth, utterly unable to figure out what is and what is not a political ad.  We informed the pilferer of privacy several times that Mills Act property ads are not political ads; they are local real estate ads.  They ignored us  — they have no interest in the truth.   For now, we are going to ignore their political problems, and we will use all other platforms to provide more details about Mills Act properties, which are currently the #1 most popular topic chosen by readers of the L.A. Loft Blog.

With property tax benefits, along with up to 50% business expense write-offs, Mills Act live/work lofts are among the very smartest deals when it comes to tax savings.   Tell us what you think.  COMMENT

Get a free list of Mills Act properties with tax benefits. Fill out the online form:

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Facebook said:
“Not Authorized for Ads with Political Content
Your ad was not approved because your Page has not been authorized to run ads with political content.
What to do: Complete the authorization process.
We’re asking people who want to run ads related to politics or issues of national importance to confirm their identity. This is part of our efforts to increase the transparency and authenticity of our ads, and know more about who’s paying for them.
None of the information you provide to confirm your identity will be shown on your profile or in ads.: The text and/or imagery you’re using is related to politics or an issue of national importance, based on the definition we’re using for enforcement. However, your Page is not authorized to run these types of ads.
You can learn more about what qualifies in the Ads Help Center.
What to do next:
You must authorize your Page to run ads related to politics or an issue of national importance. To begin the authorization process, please visit your Page’s Settings. You can find more information here. Once you’re authorized to run these ads, choose the option to run this ad with the disclaimer you create in the Authorizations process.”

Facebook is insisting that we send them personal information to register as a national political advertiser, which we currently have no plans to do any time soon.  —  MillsActLA.com

Copyright © This free information provided courtesy L.A. Loft Blog and LAcondoInfo.com with information provided by Corey Chambers, Realty Source Inc, BRE#01889449 We are not associated with the homeowner’s association or developer. For more information, contact (213) 880-9910 or visit LAcondoInfo.com Licensed in California. All information provided is deemed reliable but is not guaranteed and should be independently verified. Properties subject to prior sale or rental. This is not a solicitation if buyer or seller is already under contract with another broker.   |   COMMENT