Reassessment of Property Damaged or Destroyed by Misfortune or Calamity
Revenue and Taxation Code §170 provides for the reassessment of property that has been physically damaged or destroyed by misfortune or calamity through no fault of the assessee. Damage to taxable property must equal or exceed $10,000 to qualify for reassessment. To be considered, an application must be submitted to the Assessor’s Office within 12 months of the date the damage occurred.
If the damaged property qualifies for reassessment, the taxes may be prorated based on the number of months in the tax year (July 1 to June 30) that the property was damaged.
