EXIT REALTY MOUNTAIN VIEW

 

Reassessment of Property Damaged by Misfortune or Calamity
State law allows the Assessor’s Office to temporarily reduce the assessed value
of a property that was damaged or destroyed through no fault of the property
owner. The damage must exceed $10,000 and an application must be filed within
12 months from the date the damage occurred.
What type of property tax relief is available?
The current property taxes will be reduced for that portion of the property
damaged or destroyed. This reduction will be from the date of the damage, and
will remain in effect until the property is rebuilt or repaired.
What are the requirements to qualify for this tax relief?
In order to qualify, the damage must be in excess of $10,000 in value, and a
claim should be filed with the Assessor’s Office within 12 months from the date
the damage occurred.
If my furniture was destroyed, can my property taxes be reduced?
No. Household furnishings are not assessed for property taxes and, therefore, do
not qualify for property tax relief.
Do boats and airplanes qualify for this property tax relief if they were
damaged by a storm or fire?
Yes. Tax relief is available for all taxable property, including boats, aircraft, and
business personal property.
How does the Assessor’s Office determine the amount of property taxes to
be refunded if my house was partially destroyed by a fire?
The appraiser determines the market value of the house before and after the
damage. The percentage of the loss is then applied to the assessed value of the
house and a refund is issued. The land value will remain unchanged.
Once I file my application, what is the process?
After the application is processed by the Assessor’s Office, a notice of proposed
new assessment will be sent to the taxpayer. The result from the above
assessment will be a corrected tax bill or, if already paid, refund will be made
based on the amount of reduction. The refund will be prorated from the date of
destruction to the end of the fiscal year.
What if I disagree with the value as determined by the Assessor’s Office?
If you disagree with the value established by the Assessor’s Office, you must file
an appeal within six months from the date on the notification of proposed values.
A hearing will be scheduled by the Assessment Appeals Board.
How can I qualify for this property tax relief?
In order to qualify for this property tax relief, you must file a claim form with the
Assessor’s Office. In certain circumstances, the Assessor will order the reduction
on behalf of the homeowners.
After my property is rebuilt or repaired following the damage, will my
property taxes be increased over what they were before?
No. Property owners will retain their previous taxable value if the house is rebuilt
in a like or similar manner, regardless of the actual cost of construction.
However, any new square footage or extras, such as additional baths, will be
added to the base-year value at its full market value.
Where do I get the necessary claim form?
You may obtain an application by
1. Calling or visiting one of the 9 local district offices:
www.sbcounty.gov/assessor/OfficeLocations.asp
2. Downloading the application from our web site at
www.sbcounty.gov/assessor/documents/arp033a.pdf
3. Calling the Assessor’s Property Information Office at (909) 387-8307, or
4. Write to us at the Assessor’s Main Office at
Bill Postmus
Office of the Assessor
172 W. Third Street, 5th Floor
San Bernardino, CA 92415

RELIEF AVAILABLE FOR REALTORS® AFFECTED BY WILDFIRES
Relentless wildfires continued to rage across seven Southern California counties today, where President Bush has declared a state of emergency, paving the way for federal assistance. The wildfires, which broke out Sunday, have so far destroyed more than 1,000 homes, scorched land spanning some 600 miles, and have forced hundreds of thousands into emergency shelters.

C.A.R. stands ready to assist REALTORS® who have been impacted by these wildfires through its Disaster Relief Fund. The Association established the fund in the wake of the 2003 California wildfires. Grants provided by the fund are used to help members of the REALTOR® family --REALTORS®, their staff, and Association members and their staff -- who have incurred substantial losses due to wildfires and other disasters by distributing grants of $1,000 to $5,000. If you are a REALTOR® who has been impacted by the wildfires, you may make an application to request a grant from the C.A.R. Disaster Relief Fund by calling Elizabeth de Carteret at (213) 739-8308 or e-mail to: elizabethd@car.org.

C.A.R. is urgently asking members to contribute to the Disaster Relief Fund in order to meet current and ongoing needs for its members. If you would like to make a tax-deductible donation to the C.A.R. Disaster Relief Fund, please make checks payable to the California Community Foundation and write "C.A.R. Disaster Relief Fund" on the "memo" line. Send checks to the California Community Foundation, 445 S. Figueroa St., #3400, Los Angeles, CA 90071-1638. To make a contribution online, visit http://www.calfund.org/8/giving_calrealtorsrelief.php.
More information about the C.A.R. Disaster Relief Fund can be found under REALTORS® Care in the About C.A.R. section of C.A.R. Online at www.car.org.
To assist REALTORS® and their clients with some of the many legal questions which may arise as a result of the wildfires, C.A.R.'s Legal Department has released a Legal Q&A titled "Firestorms: Basic Real Estate Legal Issues." This information is available under Legal Q&As in the Legal section of C.A.R. online at www.car.org.