Yes, but only to the amount they were before the physical damage occurred, as long as the improvements are rebuilt in a like or similar manner, regardless of the actual cost of rebuilding. However, if additional living space or other significant improvements are made in addition to the repair, an increase in taxes may result.
No. You can transfer your value to another residence but that will be considered a permanent transfer of your base year value and you will not be able to move it back to your original residence when construction is completed on the rebuild.
Yes. Property is assessed on the lien date (January 1st) and/or at the construction completion date. If the property improvements are only partially rebuilt as of January 1, a partial value will be restored for the next annual tax bill.
You may speak with the appraiser who will explain the methodology involved in their decision. If you feel that there was information missed, you may provide additional information thereafter. If you wish to file a formal appeal application with the Clerk of the Assessment Appeals Board, you must do so within 60 days of the Notice date.
We cannot give you a value estimate prior to completion of construction. You will keep your Proposition 13 basis on structures of record prior to the addition. The costs and market approaches will be evaluated for the added square footage portion, and then reconciled by our appraiser for a reasonable fair market value conclusion. A specific notice will be sent out prior to any tax bill.
The accessory dwelling unit will be assessed at its fair market value when complete and have a new base year value established for that structure since it was never assessed. When the main house is rebuilt, the two values will be combined. The two structures will have two separate Proposition 13 base years specific to each living unit.
(i.e. different floor plan; add a full bath; it now meets current building codes; etc.) Property owners will retain their factored base year value as long as the structure is rebuilt in a like or similar manner to bring it up to current building codes, regardless of the actual cost of construction. However, any new square footage or extras such as additional baths, accessory dwelling units, etc., will be added to the Proposition 13 factored base year value at its full market value. The original property will not be reassessed unless there is a new construction event or a change of ownership on the property.
No. Property owners will retain their previous factored base year value if the house is rebuilt in a like or similar manner, regardless of the actual cost of construction. However, any new square footage or extras, such as additional baths, will be added to the Prop. 13 factored base year value at its full market value.
