$2.2 Million for a Taste of History: Inside Monrovia's C.O. Banks House

Monrovia's historic C.O. Banks House, designated by the city as Historic Landmark No. 11, is on the market for a staggering $2.2 million. This breathtaking property is not only a piece of the city's rich history, but it also comes with an added benefit - annual property tax savings under the Mills Act. In this article, we'll delve into the significance of this historic gem and explore what makes it so special.

The Mills Act, also known as the Mills Historic Preservation Tax Abatement Program, was enacted in 1972 to encourage the preservation of California's historic properties. It allows property owners to enter into a Voluntary Preservation Agreement with the local government, agreeing to maintain and preserve their historic property in exchange for a reduction in property taxes. For the owner of the C.O. Banks House, this means significantly lower taxes - a benefit that's sure to attract history buffs and savvy investors alike.

The C.O. Banks House itself is a testament to the city's rich history. As one of the oldest homes in Monrovia, it boasts a unique blend of architectural styles and a fascinating past. The house has been meticulously maintained to preserve its historic charm, with original features still intact. From the moment you step inside, you'll be transported back in time to an era of elegance and refinement.

While the property's historical significance is undeniable, its modern appeal lies in its adaptability. The spacious rooms and flexible floor plan make it an ideal choice for families, entertainers, or anyone looking to create their own unique living space. And with the Mills Act tax savings, owners can invest in the property without breaking the bank.

As the C.O. Banks House hits the market, history enthusiasts and those seeking a truly one-of-a-kind living experience are sure to take notice. With its captivating blend of old-world charm, stunning architecture, and savvy tax benefits, this property is an unmissable opportunity for anyone looking to own a piece of Monrovia's history.