The construction or reconstruction of seismic components within an existing structure is excluded from property tax reassessment (Revenue and Taxation Code § 74.5).
To qualify for the exclusion:
The property owner must file the claim form with the Assessor either before or within 30 days of project completion.
Supporting documents must be submitted to the Assessor within six months of project completion.
Certification and reporting
A property owner, primary contractor, civil or structural engineer, or architect must certify to the local building inspector which portions of the project qualify as seismic retrofitting components, as defined in Revenue and Taxation Code § 74.5(b)(2).
Upon project completion, the local building inspector will report the costs of the seismic retrofitting components to the Assessor.
