Property taxation: transfer of base year value: disaster relief.

Existing property tax law provides, pursuant to a requirement of the California Constitution, that the property tax base year value of real property that is substantially damaged or destroyed by a disaster, as declared by the Governor, may be transferred to a comparable property located within the same county that is acquired or newly constructed within 5 years after the disaster as a replacement property. This bill would, for the Cedar Fires of 2003, authorize the board of supervisors of the County of San Diego to extend this transfer authorization by 2 years to allow a comparable replacement property to be acquired or newly constructed within 7 years, rather than 5 years, after a disaster. This bill would make a legislative finding and declaration as to the necessity for a special statute as well as a legislative finding and declaration relating to the public purpose served by specified provisions of the bill. Section 2229 of the Revenue and Taxation Code requires the Legislature to reimburse local agencies annually for certain property tax revenues lost as a result of any exemption or classification of property for purposes of ad valorem property taxation. This bill would provide that, notwithstanding Section 2229 of the Revenue and Taxation Code, no appropriation is made and the state shall not reimburse local agencies for property tax revenues lost by them pursuant to the bill. This bill would take effect immediately as a tax levy.