Bill > SB1053

This bill allows county boards of supervisors to extend the deadline for property owners to transfer their property's base year value to a replacement property by up to three years, specifically for disasters declared by the Governor between January 1, 2026, and January 1, 2031. The base year value is the original assessed value of a property, which is generally lower than current market value and protected from significant increases under California's Proposition 13. This extension applies to properties that are substantially damaged or destroyed by a declared disaster and are replaced with comparable property either within the same county or reconstructed on the original site. The bill also clarifies that the state will not reimburse local agencies for any property tax revenue lost due to these extensions, and it takes effect immediately as a tax levy.

https://leginfo.legislature.ca.gov/faces/billStatusClient.xhtml?bill_id=202520260SB1053