Property taxation: application of base year value: disaster relief.

Assembly Member Gipson's property tax relief measure extends reconstruction timelines and modifies valuation methods for properties damaged by six specific fires that occurred in early 2025. The legislation allows property owners affected by the Palisades, Eaton, Hurst, Lidia, Sunset, and Woodley fires to retain their original property tax base year values for up to eight years while rebuilding, rather than the standard five-year period.

The bill establishes new protocols for determining property values after fire damage. County assessors must calculate January 2025 fair market values by incorporating reductions due to physical damage, depreciation, and property removal when the total decline exceeds $10,000. Properties qualify for this adjusted valuation method only if they are ineligible for other disaster relief programs under existing law.

Local tax officials gain additional responsibilities for implementing these changes, though the legislation prohibits state reimbursement for any resulting revenue losses to local agencies. The measure includes an urgency clause making it effective immediately upon passage, which requires a two-thirds majority vote for approval.