What are the benefits of local historic landmark designation?
The City and County each taxes a local historic landmark property based on 50 percent of the property’s value. These deferred taxes then act as lien on the property, meaning that the deferred taxes are payable, with interest, if and when the property loses its landmark designation. Owners must request the tax deferral from the County Tax Administrator. Each time a landmark property changes hands, the new owner must reapply to the tax office for the local historic landmark tax deferral.