Property Substantially Damaged by Disaster

Proposition 50, R&T Section 69 - Property Substantially Damaged by Disaster

Taxpayer's whose property has been destroyed or damaged in a Governor declared disaster area can transfer the Prop.13 base year value to a comparable property.

Property is "substantially damaged or destroyed" if it sustains physical damage amounting to more than 50% of the property's market value before the disaster occurred. Damage includes a property's loss in value due to permanently restricted access caused by the disaster.

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