Senate Bill 303, authored by Senator Andreas Borgeas (R-Fresno), was approved unanimously by both houses of the California Legislature. Senate Bill 303 extends the time period by two years for a taxpayer to transfer their base year value to a comparable property in the same county if their home was destroyed by a disaster. Senate Bill 303 is now awaiting the Governor’s signature.
“California has seen an unprecedented number of wildfires in recent years that have decimated countless homes throughout the state,” said Senator Borgeas. “Once a home is destroyed, residents are faced with a maelstrom of barriers and costs as they seek to build a new home. SB 303 provides additional relief for wildfire victims by allowing qualifying residents a total of seven years to rebuild or acquire a new home. The state of California should be doing everything in its power to assist wildfire victims.”
“In Calaveras County, the Butte Fire damaged or destroyed hundreds of homes in September 2015,” said Leslie K. Davis, Calaveras County Assessor. “Almost immediately, displaced residents were renting or buying available property and what little supply that had existed was completely exhausted by the demand. With the five-year deadline to replace their home passed, those who have not been able to complete construction were also reeling from the effects of the COVID Shut Down. These property owners have been doubly hit by disaster; first a wildfire, then a pandemic. This proposal will help many regain a sense of normalcy.”
Read the full text of the legislation here