PROPERTY TAX RELIEF FOR PROPERTIES IMPACTED BY A DISASTER

14 Jan PROPERTY TAX RELIEF FOR PROPERTIES IMPACTED BY A DISASTER

Posted at 17:53h in Insights by

If your home has been damaged or destroyed by the Palisades, Eaton, or any other wildfire you may qualify for property tax payment relief through your county assessor’s office. Since these fires have been declared a federal natural disaster, depending on the extent of the damage, there are several programs available to help reduce your financial burden, including property tax reductions, deferrals, and base year value transfers for replacement properties.

 

Here’s a quick overview of what you need to know:

•     Disaster Relief Claims: File with your county assessor to have your property taxes reduced for the portion of the property that has been damaged or destroyed.

•     Tax Deferrals: If you qualify, you may postpone your next property tax installment without penalty or interest.

•     Base Year Value Transfer: If your home was substantially damaged, you might transfer the taxable value of your property to a replacement property under certain conditions.

 

For more details, including forms and deadlines, visit your county assessor’s website or if in Los Angeles County visit the resources below:

We will continue to update as news develops on this issue.

If you have any questions, please reach out to us.