Claim for Transfer of Base Year Value to Replacement Primary Residence for Victims of Wildfire or Other Natural Disaster
Beginning April 1, 2021, California law allows an owner of a primary residence who is a victim of a wildfire or other natural disaster to transfer the factored base year value of their primary residence to a replacement primary residence that is located anywhere in California. To qualify for the base year value transfer, the following requirements must be met:
The original primary residence must be sold in its damaged state.
The original primary residence must have been your principal place of residence (thus, eligible for the Homeowners’ Exemption or Disabled Veterans’ Exemption) at the time of the wildfire or disaster.
The replacement primary residence must be purchased or newly constructed within two years of the sale of the original primary residence.
Claimant must own and occupy the replacement primary residence as a principal place of residence (thus, eligible for the homeowners’ or disabled veterans’ exemption) at the time this claim is filed.
Either (1) the sale of the original primary residence or (2) the purchase or completion of new construction of the replacement primary residence, must occur on or after April 1, 2021.
Submission Deadline: The claim must be filed within two years of the date of purchase or completion of new construction. Prospective relief is available for claims filed after two years.
