Bill > SB663

This bill provides tax relief and property assessment protections for properties impacted by the January 2025 wildfires in Los Angeles and Ventura Counties, specifically the Palisades, Eaton, Hughes, and Kenneth Fires. The bill extends the time period for property owners to reassess and reconstruct damaged properties from 5 to 8 years, allowing them to maintain their original property tax base value if the reconstructed property is comparable in size and function. For properties that received tax exemptions (such as those used for religious, charitable, scientific, or hospital purposes) before the fires, the bill allows them to maintain their exemption status even if the property is no longer exclusively used for its original purpose, until the property is replaced or returns to its prior use. The bill applies this relief for lien dates up to January 1, 2033, and is designed to provide immediate economic assistance to fire victims by reducing potential financial burdens related to property taxes and reassessment. The bill is classified as an urgency statute, meaning it will take effect immediately upon passage, with the explicit goal of providing quick relief to residents impacted by the devastating wildfires.

Budget and Finance

https://leginfo.legislature.ca.gov/faces/billStatusClient.xhtml?bill_id=202520260SB663