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Copyright© 2020, CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.). Permission is granted to C.A.R. members only to reprint and use this material for non-commercial purposes provided credit is given to the C.A.R. Legal Department. Other reproduction or use is strictly prohibited without the express written permission of the C.A.R. Legal Department. All rights reserved. Written by Robert Bloom, Esq.
Tax: Exemption from Reassessment Retained for Rebuilt Property Destroyed by Disaster up to 120% of Value of Original
In a Governor-declared disaster an exemption from reassessment will be retained for reconstructed improvements which are comparable to the improvement replaced if similar in size, utility, and function and within 120% of value of original property.
This law allows owners of property substantially damaged or destroyed in a Governor-declared disaster to reconstruct comparable improvements onsite with a return to the former improvement's base year value. While existing law eectively allows this in a form of a new construction exclusion, this law adds a new provision specic to post-disaster reconstruction following a Governor-recognized event and allows a more generous comparability denition. Specically, it denes the term "comparable" using the same 120% denition used when a victim of a major disaster decides to reconstruct replacement property on site of the damaged property. Under this denition, reconstructed improvements will be found comparable to the improvement replaced if similar in size, utility, and function and within 120% of value. This law applies to real property damaged or destroyed by misfortune or calamity on or after January 1, 2017.
Assembly Bill 2013 is codied as Tax and Revenue Section 70.5.
Eective January 1, 2021.
Water: Community Water System Exemption
Senate Bill 974 California Environmental Quality Act: Small Disadvantaged Community Water System: Exemption– This measure will help impacted communities gain access to clean and safe drinking water. This bill oers a modest but important exemption to very limited community water supply projects that will help certain residents obtain clean and reliable water. C.A.R. supported this measure as it will provide an exemption in CEQA to help expedite small community water projects.
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