Property taxation: application of base year value: disaster relief.
Vote required
Two Thirds
Fiscal committee
No
Appropriation
No
Current location
Chaptered
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed Assembly
- Passed Senate
- To Governor
- Became Law
Overview
This bill modifies California’s property tax laws to provide relief for property owners who have experienced substantial damage or destruction due to declared disasters, specifically the 2025 Palisades Fire, Eaton Fire, Hurst Fire, Lidia Fire, Sunset Fire, and Woodley Fire. It extends the timeframe for applying the base year value of damaged property to replacement property by three years if the damage occurred after January 7, 2025, and before February 1, 2025. The bill also adjusts how property values are determined for affected properties in 2025, taking into account damage and depreciation, and ensures state reimbursement for related costs.
Key provisions
- Extends the 5-year timeframe to apply base year value for disaster-damaged property to 8 years if the damage occurred between January 7, 2025, and February 1, 2025.
- Requires property values to account for damage, depreciation, and obsolescence when determining the value of affected properties in 2025.
- Applies the base year value to replacement property reconstructed on the same site within 8 years of the disaster.
- Provides for a minimum full cash value of 120% for the reconstructed property’s base year value.
- Specifies that only property owners who have reconstructed the damaged property are eligible for tax relief.
- Requires the state to reimburse local agencies for property tax revenues lost due to the provisions of the bill.
- Declares the bill an urgency statute, allowing it to take effect immediately.
- Incorporates amendments from Senate Bill 663, contingent on both bills being enacted and this bill being last.
Bill text
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Sponsors
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1 on record
Primary sponsor
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