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

Existing property tax law, pursuant to a requirement of the California Constitution, authorizes the base year value of property that is substantially damaged or destroyed by a disaster, as declared by the Governor, to be transferred to a comparable property located within the same county that is acquired or newly constructed as a replacement for the substantially damaged or destroyed property. This bill would prohibit the limitation requiring the transfer of base year value within the same county from applying to the transfer of base year value of property that is substantially damaged or destroyed by a disaster, as declared by the Governor, occurring on or after January 1, 2017, to July 1, 2018, inclusive, to comparable property located within a different county that is acquired or newly constructed as a replacement for the substantially damaged or destroyed property. The bill would limit these provisions to intercounty transfers of base year value that occur on or after the effective date of this bill. By changing the manner in which local assessors assess property for property taxation purposes, this bill would impose a state-mandated local program. The California Constitution requires the state to reimburse local agencies and school districts for certain costs mandated by the state. Statutory provisions establish procedures for making that reimbursement. This bill would provide that, if the Commission on State Mandates determines that the bill contains costs mandated by the state, reimbursement for those costs shall be made pursuant to the statutory provisions noted above. Existing law requires the state 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 those provisions, 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, but would become operative only if Senate Constitutional Amendment ____ of the 2017–18 Regular Session is approved by the voters.