Latest Breaking News On - California state senator andreas borgeas property tax bill allows wildfire and disaster victims more time to rebuild - Page 1 : comparemela.com
California State Senator Andreas Borgeas Property Tax Bill Allows Wildfire and Disaster Victims More Time to Rebuild Published: Friday, 12 March 2021 05:52
March 12, 2021 - SACRAMENTO – Senate Bill 303, introduced by Senator Andreas Borgeas (R-Fresno), was approved by the Senate Governance and Finance
Committee on a 5-0 vote on Thursday. Senate Bill 303 would give disaster victims a lifeline by extending the base year value transfer deadline by an additional two years.
Under SB 303, Californians would have more time to transfer the property tax base year value of their home, if it was damaged or destroyed during a Governor-declared disaster, to a comparable property located within the same county, provided it is acquired or newly constructed within seven years after the disaster. Current law only allows five years.