Real property tax: transfer of base year value: generational transfers: wildfire.

Senator Pérez's property tax legislation extends filing deadlines for homeowners affected by six major 2025 wildfires to claim exclusions from reassessment when transferring property between generations. The measure allows property owners whose homes or farms were damaged by the Palisades, Eaton, Hurst, Lidia, Sunset, or Woodley fires to file claims within three years of receiving a supplemental assessment notice, rather than the standard six-month window.

The bill modifies two existing exclusions from property tax reassessment: transfers of primary residences between parents and children (or grandparents and grandchildren if the parents are deceased), and transfers of family farms. For properties affected by the specified fires, claims filed before January 1, 2031 will be considered timely if submitted within the extended three-year period. The legislation also aligns filing deadlines for homeowners' and disabled veterans' exemptions with this modified timeline.

County assessors must implement new notification procedures under the bill. After identifying potential eligibility, assessors will issue an initial notice requiring claims within 45 days. If that deadline passes, a second notice provides an additional 60 days to file. Counties may charge processing fees up to $175 for late claims. The State Board of Equalization, in consultation with county assessors, will develop forms and emergency regulations to implement these changes.