Bill > SB663

This bill provides targeted property tax relief for homeowners and property owners impacted by specific wildfires in Los Angeles and Ventura Counties during late 2024 and early 2025, including the Palisades, Eaton, Hurst, Lidia, Sunset, Woodley, Mountain, and Franklin Fires. The bill extends the timeframe for property tax reassessment and base year value transfers from 5 to 8 years for properties substantially damaged by these fires, allowing property owners more time to reconstruct their homes or properties. It also expands provisions for disabled veterans' property tax exemptions, allowing veterans whose homes were completely destroyed in a state-declared emergency to maintain their exemption status if they intend to reconstruct. Additionally, the bill provides that properties which previously qualified for use-based tax exemptions can continue to receive those exemptions even if they are temporarily unable to use the property for its exempt purpose, provided certain conditions are met, such as no change in ownership and a demonstrated intent to reconstruct. The bill is designed to provide immediate economic relief to wildfire victims and is set to take effect immediately as an urgency statute, recognizing the critical need to support communities recovering from devastating fire damage.

Budget and Finance

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