SB 293
Real property tax: transfer of base year value: generational transfers: wildfire.
Vote required
Majority
Fiscal committee
No
Appropriation
No
Current location
Chaptered
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Sign in to take action- Introduced
- Passed Senate
- Passed Assembly
- To Governor
- Became Law
Bill overview
This bill modifies California’s property tax rules to address generational transfers of real estate, particularly in the wake of wildfires. It extends the timeframe for filing claims for property tax exclusions – typically used when transferring a family home – to three years after a notice of supplemental assessment is issued, provided specific conditions are met, including a reassessment due to wildfire damage. The bill also adjusts the rules for claiming exemptions for homeowners and disabled veterans, offering a similar extended filing period under specific circumstances related to wildfire-related assessments. These changes aim to provide more flexibility for property owners affected by natural disasters.
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