Existing law authorizes a county board of supervisors to provide by ordinance for the reassessment of property that is damaged or destroyed, without fault on the part of the assessee, by a major misfortune or calamity, upon the application of the assessee or upon the action of the county assessor with the approval of the board of supervisors. With respect to an eligible county, defined to mean a county that, among other things, has adopted a reassessment ordinance as described above, existing law also authorizes owners of eligible property, as defined, who have applied for reassessment under that ordinance, to apply for and receive the deferral of the next installment of property taxes on the regular secured roll. It additionally authorizes an eligible county to adopt an ordinance allowing, upon the filing of a claim by an assessee, the deferral of that assessee’s unpaid and nondelinquent taxes on the supplemental roll. Existing law provides, as specified, for state allocations to eligible counties to reimburse those counties for the deferral of taxes on the regular secured and supplemental rolls, and requires eligible counties to in turn reimburse the state, as provided, for those allocations. Existing law also continuously appropriates, without regard to fiscal years, moneys in the Special Fund for Economic Uncertainties for purposes of the above provisions.
This bill would modify the authorization for owners of eligible property to apply for and receive the deferral of the next installment of property taxes on the regular secured roll to apply both to those owners who have applied for reassessment under a reassessment ordinance and those owners whose property is otherwise reassessed under that ordinance. It would also provide, as specified, for state allocations to eligible counties, declared by the Governor to be in a state of disaster as a result of either of certain fires occurring in California in 1990 and 1991, of the estimated amounts of the reductions in property tax revenues on the regular secured and supplemental rolls as result of reassessment of damaged properties under a reassessment ordinance. It would require those eligible counties receiving those allocations to reimburse the state for those amounts, where the estimated reductions in property tax revenues exceed actual reductions.
By requiring moneys continuously appropriated from the Special Fund for Economic Uncertainties to be allocated by the Controller for the new purpose of reimbursing certain new eligible counties for the above property tax revenue reductions, this bill would make an appropriation.
This bill would declare that it is to take effect immediately as an urgency statute.