California Revenue and Taxation Code

§ 70.5

RTC § 70.5 Effective Oct 10, 2025Div. 1 · Part 0.5 · Ch. 3

Statute text

(a)Notwithstanding Section 70, and pursuant to Section 2 of Article XIIIA of the California Constitution, the base year value of property that is substantially damaged or destroyed by a disaster, as declared by the Governor, may be applied to replacement property reconstructed on the site of the damaged or destroyed property within five years after the disaster as a replacement for the substantially damaged or destroyed property if that reconstructed property is comparable to the substantially damaged or destroyed property. A person who owns substantially damaged or destroyed property that receives property tax relief under this section shall not be eligible for property tax relief provided under Section 69.

(b)(1) The replacement base year value of the reconstructed property shall be determined in accordance with this section.

(2)The assessor shall use the following procedure in determining the appropriate base year value of the reconstructed property:

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Legislative history

Amended by Stats. 2025, Ch. 549, Sec. 1. (SB 663) Effective October 10, 2025.