Silver lining to California winter storm damage: lower property taxes
If the floods, slides and landscape mayhem triggered by the string of winter storms severely damaged your house in California, there’s one bit of relief you can claim: a property tax cut. Under state law, property owners who suffer at least $10,000 in damage to their home’s current market value can apply for a reassessment. They have to file an application with their county assessor’s office within 12 months of the incident unless their county offers a later deadline. … If your home was substantially damaged or destroyed in the recent storms, Proposition 19 from 2020 allows you to transfer the taxable value to a newly purchased or constructed house anywhere in the state within two years after you sell the damaged property.