Make sure that your family and friends know that if their home was severely damaged by the recent wildfires, they may be eligible to to move their tax base (Proposition 13) to a replacement property. You may even be able to relocate to one of the some participating counties.
November 30, 2017
Sonoma County Clerk Recorder Assessor, William F. Rousseau, announced today that properties with structures that were severely damaged by the Sonoma Complex Fires may be eligible to transfer their property tax base (Prop. 13) to a replacement property.
California Revenue and Taxation Code Sections 69 (Prop. 50) and 69.3 (Prop. 110) allow owners of properties severely damaged or destroyed in a Governor declared disaster to transfer the Prop. 13 base year value of the damaged or destroyed property to another property.
- Under Revenue and Taxation Code Section 69, a Prop. 13 base year value transfer is permitted within the county where the property was damaged.
- Revenue and Taxation Code Section 69.3 allows owners of damaged property to bring their Prop. 13 base year value from the county where the property was damaged (intercounty) to one of the 10 counties currently permitting these transfers.
The participating Section 69.3 counties are Contra Costa, Los Angeles, Modoc, Orange, San Francisco, Santa Clara, Solano, Sonoma, Sutter and Ventura. Please check with the specific county for details before you make a decision to purchase a property there.
“There are different rules for intracounty and intercounty base year value transfers,” said Mr. Rousseau. “Please go to our website or contact us to learn more about the specific requirements for each of these options.”
For more information please check the Sonoma Count Tax Assessors website. http://sonomacounty.ca.gov/CRA/Assessor/Real-Property/Tax-Savings/Governor-Declared-Disaster/ or call the Assessor’s office at 707-565-1888.