SB 603
Property taxation: transfer of base year value: disaster relief.
Vote required
Majority
Fiscal committee
No
Appropriation
No
Current location
Appropriations
Take action
Record your position on this measure.
Sign in to record your position, submit testimony, or contact your legislator.
Sign in to take action- Introduced
- Passed Senate
- Passed Assembly
- To Governor
- Became Law
Bill overview
This bill proposes to extend the timeframe for property owners in California to transfer the assessed value of their damaged property to a replacement property after a declared disaster. Currently, homeowners have five years to do this. The bill would allow counties, if declared to be in a state of emergency by the Governor, to extend this timeframe up to three years for properties impacted by disasters occurring between January 1, 2025, and January 1, 2030. Importantly, the bill also states that the state will not reimburse local agencies for any property tax revenue lost due to this transfer process.
Arguments in favor
Reasons to support this legislation.
No arguments in favor have been submitted.
Submit yoursArguments opposed
Reasons to oppose this legislation.
No arguments opposed have been submitted.
Submit yoursRead the latest version inline or switch to a previous version.