Under certain circumstances described below, California law allows taxpayers the ability to temporarily reduce their assessed value, and/or transfer their protected Proposition 13 assessed value when the property has been physically damaged by a natural disaster. Below is information about the major programs.
TEMPORARY RELIEF PROGRAMS
Allows property owners, under certain circumstances, to temporarily reduce the assessed value when the market value of their property drops below the Assessed Value due to damage by misfortune or calamity (e.g. fire, earthquake, etc.).
Property damaged by misfortune or calamity
TRANSFERRING YOUR PROPOSITION 13 VALUES
The following proposition was adopted by California voters to allow property owners to transfer Prop. 13 factored base year values from a damaged property to a new property. If you qualify, you must submit a completed claim form to receive these tax-savings benefits.
Property Substantially Damaged By Governor declared Disaster
Prop 50 (Section 69) More Information..