Bill > SB663

This bill provides targeted tax relief and property assessment modifications for properties affected by specific wildfires in Los Angeles and Ventura Counties during the winter of 2024-2025, including the Palisades, Eaton, Hurst, Lidia, Sunset, Woodley, Mountain, and Franklin Fires. The bill extends the timeframe for property owners to reconstruct damaged properties from 5 to 8 years while maintaining their original property tax base year value, allows property owners up to 24 months (instead of 12) to file for property reassessment after the fires, and ensures that properties with existing tax exemptions can retain those exemptions even if they are temporarily unable to use the property for its original exempt purpose. For disabled veterans, the bill adds a provision that if their dwelling is completely destroyed in a disaster, the property can still be considered their principal residence if they intend to reconstruct. The bill applies specifically to properties damaged between November 1, 2024, and February 1, 2025, and is designed to provide economic relief to wildfire victims by reducing their tax burdens and providing flexibility in property reconstruction and assessment. The bill takes effect immediately as an urgency statute and is set to expire on January 1, 2033.

Budget and Finance

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