Natural disasters like wildfires, earthquakes, and floods can wreak havoc on properties and lives. Recognizing the need for financial relief during these challenging times, the Los Angeles County Tax Assessor offers two critical tax relief programs: Misfortune and Calamity Tax Relief and Proposition 19 Disaster Relief for Tax Base Transfers. These programs are designed to ease the financial burden on property owners and provide a pathway to recovery.
Misfortune and Calamity Tax Relief
If your property is damaged or destroyed by a calamity, such as a wildfire or flood, you may qualify for a reassessment of your property’s value. This temporary tax relief adjusts your property’s assessed value to reflect its reduced condition, potentially lowering your property tax obligations significantly.
Eligibility Criteria
To qualify:
- The damage must exceed $10,000 in current market value.
- The property owner must have owned the property as of January 1 of the calendar year following the event.
- Applications must be submitted within 12 months from the date the property was damaged or destroyed.
Steps to Apply
- File Form ADS-820:
- Download the Application for Reassessment of Property Damaged or Destroyed by Misfortune or Calamity from assessor.lacounty.gov/forms.
- Include Your Assessor’s Parcel Number (APN):
- Find your APN by searching your address online with “APN.”
- Submit the Form:
- Complete the form, sign it, and email it to re****@as******.gov.
Benefits of Filing
- Reduced Tax Bills: Your property tax will be adjusted to reflect the reassessed value.
- Deferred Payments: Tax payments can be deferred without penalties until your property is repaired or rebuilt.
After Approval
Once your application is approved, you’ll receive an adjusted property tax bill reflecting the reassessment. Payments can often be split into two installments for added flexibility.
Proposition 19 Disaster Relief: Transfer of Tax Base Value
Proposition 19 offers another layer of relief for property owners whose homes are substantially damaged or destroyed by a Governor-declared disaster. This program allows homeowners to transfer their property tax base to a comparable replacement property within California.
Key Benefits
- Transfer your tax base to a property of equal or greater value, with adjustments for value differences.
- Retain your lower property tax rate even after purchasing a new home.
Eligibility Criteria
- The disaster must be officially declared by the Governor.
- Replacement properties can be located within the same county or another county in California.
Steps to Apply
- Visit the Proposition 19 section of the Assessor’s website for more details.
- Download and complete the required forms.
Frequently Asked Questions
What Constitutes “Damage”?
Damage includes any physical loss that reduces your property’s current market value by $10,000 or more. This includes destruction caused by fire, flooding, earthquakes, or other natural disasters.
Can I Apply for Both Programs?
Yes, you may apply for Misfortune and Calamity Tax Relief while also taking advantage of Proposition 19 if relocating to a replacement property.
How Do I Check the Status of My Claim?
- Online: Visit Assessor’s Contact Page.
- Email: re****@as******.gov
- Phone: (213) 974-8658
Conclusion
Natural disasters can bring immense financial and emotional stress, but tax relief programs like Misfortune and Calamity Tax Relief and Proposition 19 Disaster Relief provide critical support for recovery. Whether you’re seeking to reassess your property’s value or transfer your tax base to a new property, these programs can save you money and provide peace of mind.For more detailed guidance, visit the LA County Tax Assessor’s website or contact their office directly. Share this information with anyone affected to ensure they access these vital benefits.