Property Tax Reassessment – Disaster Provision

Sanoma County assessors office property tax information:

http://sonomacounty.ca.gov/CRA/Assessor/Real-Property/Tax-Savings/Disaster-Provision/

Sanoma County Reassessment Form: http://sonomacounty.ca.gov/WorkArea/DownloadAsset.aspx?id=2147524453

If you have confirmation that your home has been destroyed this is yet another thing that will need to be done, but it will save you money while you rebuild, and it let’s you transfer your tax base after you rebuild or relocate.

Getting your property taxes reassessed will reduce your taxes to just the value of the land rather than the land plus structure improvements.  This will mean that while you are recovering you will be paying a lesser property tax.

And whether you choose to rebuild or relocate, you can transfer your original tax base to the rebuilt or new property.

A good example is that you had been in your home for 30 years and purchased it at a much lower price at the time.  You currently have a lower property than someone who had purchased a home in the last 5 or 10 years.   Now when you rebuild on a property or relocate to a new one, the property will be reassessed at today’s value which would typically mean that you are now at a higher tax rate.  Because of this disaster when the time comes you will be able to keep your original property tax bill.

This will apply in other counties as well, and I apologize for just having Sanoma County.  I will try to include other affected counties later this evening.

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