Another round of heavy rains has soaked many parts of Santa Clara County and may have caused damage to properties due to flooding. County Assessor Larry Stone advises homeowners whose property sustained damage during the recent flooding that property-tax relief is available.
Stone said he “strongly encourages” all property owners who suffered flood damage to call (408) 299-5500 or visit the Assessor’s website at sccassessor.org to learn about the Calamity Property Tax Relief program and download the claim form.
The program requires the property owner to file a calamity claim with the Assessor’s Office within 12 months from the date the property was damaged or destroyed. The loss must exceed $10,000 of current market value.
On receiving the application, the Assessor’s Office may issue a temporary reassessment that reflects the property’s damaged condition. The reduced value will remain in effect until the property is repaired or rebuilt. After the property is rebuilt or repaired, the property can retain the previous Proposition 13 factored base-year value if the property is rebuilt in a like or similar manner. That means that the property-tax assessment would not increase beyond what it was before the flooding.
“This tax relief is available for all properties, including homes, commercial and industrial buildings, and mobile homes,” Stone said. “However, damage to vehicles and the contents of a home such as personal effects and furniture are not eligible for this tax relief because they are not assessable property.”
For more information, visit tinyurl.com/assessor-flood.