CaliforniaProperty taxation: newly constructed property: reconstruction of damaged or destroyed property.
What it does
The California Constitution generally limits ad valorem taxes on real property to 1% of the full cash value of that property. For purposes of this limitation, "full cash value" is defined as the assessor's valuation of real property as shown on the 1975–76 tax bill under "full cash value" or, thereafter, the appraised value of that real property when purchased, newly constructed, or a change in ownership has occurred. Existing law defines "newly constructed" and "new construction" to mean any addition to real property since the last lien date and any alteration of land or of any improvement since the last lien date that constitutes a major rehabilitation thereof or that converts the property to a different use.
More detail
Existing law, where real property has been damaged or destroyed by misfortune or calamity, excludes from the definition of "newly constructed" and "new construction" any timely reconstruction of the real property, or portion thereof, where the property after reconstruction is substantially equivalent to the property prior to damage or destruction.
This bill would authorize an assessor, in the case where state or local government action mandates a suspension or modification of rebuild development standards, and subject to specified law, to align the assessment of "substantial equivalence" with the requirements and criteria set forth by the government for reconstruction of property damaged by the 2025 fire disasters in Palisades, Eaton, Hurst, Lidia, Sunset, or Woodley, as provided.
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Where it stands
- Introduced
- Passed Assembly
- Passed Senate
- To Governor
- Became Law
Looking ahead
No hearings or votes scheduled.
History
- 2026
- Feb 2From committee: Filed with the Chief Clerk pursuant to Joint Rule 56.Latest
- Jan 31Died pursuant to Art. IV, Sec. 10(c) of the Constitution.Major
- 2025
- May 23In committee: Held under submission.
- May 21Joint Rule 62(a), file notice suspended. (Page 1627.)
- May 21In committee: Set, first hearing. Referred to APPR. suspense file.Minor
- May 14In committee: Hearing postponed by committee.
- May 6Re-referred to Com. on APPR.Minor
- May 5Read second time and amended.Major
- May 1From committee: Amend, and do pass as amended and re-refer to Com. on APPR. (Ayes 7. Noes 0.) (April 28).Major
- Apr 28In committee: Set, first hearing. Referred to REV. & TAX. suspense file.Minor
- Vote recorded Do pass as amended and be re-referred to the Committee on [Appropriations]. Result: pass.Lower
- Apr 21Re-referred to Com. on REV. & TAX. pursuant to Assembly Rule 96.Minor
- Apr 21From committee chair, with author's amendments: Amend, and re-refer to Com. on B. & P. Read second time and amended.Major
- Mar 13Referred to Com. on B. & P.Minor
- Feb 24Read first time.Minor
- Feb 22From printer. May be heard in committee March 24.
- Feb 21Introduced. To print.Introduced