Reassessment of Property Damaged or Destroyed by Misfortune or Calamity
Reassessment of Property Damaged or Destroyed by Misfortune or Calamity. Section 170 of the revenue and taxation code provides for the reassessment of real and/or personal property which has been damaged or destroyed by a misfortune or by a calamity through no fault of the assessee
The full cash value of the damage must be equal to, or greater than, $10,000. If the damaged property qualifies for reassessment, the taxes may be prorated based on the number of months in the tax year (July1 to June 30) that it is in a damaged condition.
Applications must be filed with the County Assessor within twelve months of the date the damage was sustained.
