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CA SB663

Winter Fires of 2025: real property tax: exemptions and reassessment.


summary

Introduced
02/20/2025
In Committee
05/23/2025
Crossed Over
06/03/2025
Passed
Dead

Introduced Session

2025-2026 Regular Session

Bill Summary

An act to amend Sections 70.5 and 170 of, and to add and repeal Section 287 of, the Revenue and Taxation Code, relating to taxation, and declaring the urgency thereof, to take effect immediately.

AI Summary

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.

Committee Categories

Budget and Finance

Sponsors (14)

Last Action

In Assembly. Read first time. Held at Desk. (on 06/04/2025)

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