On Your Side: Property tax relief for storm-damaged homes
Record breaking rainfall in Southern California in January caused storm damage in some neighborhoods. But there is some relief for those homeowners in the form of their property taxes. On Your Side's Kristine Lazar explains how.
Insurance won't always cover storm damage, unless you have supplemental flood insurance. And that means homeowners can be faced with thousands in out-of-pocket expenses.
At the same time, the April deadline for the second installment of property taxes is fast approaching.
What homeowners may not realize is that if your home was damaged or even destroyed by storm damage, you can get your property taxes lowered or even wiped altogether.
You have to have at least $10,000 in damage, and you need to apply within a year of that damage occurring.
You can get your property taxes reduced by the amount of value your house has lost due to the damage.
If your house is red-tagged, meaning it's been destroyed, then you will have your property tax waived altogether.
"Let's say your property is completely destroyed and you don't want to rebuild where it was, you can buy a new home and transfer your tax base with you to the new one," said L.A. County Assessor Jeff Prang.
You can apply online at assessor.lacounty.gov
You can also get late fees cancelled or deferred with a payment plan if you're having a difficult time paying.
If you pay your taxes after the damage is done, because you haven't applied for relief yet or your application is still pending, then you will get a check from the county to reimburse you.
