Cal fires and Prop 13 homes

[SummitKarl]

So I am reading through the insurance threads and it got me thinking as a former prop 13 property owner, what happens to all the Cali, homes that have to be rebuilt that are passed down to generations, do they stay under the prop 13 rules or did Gavin just hit the jackpot of increased property taxes for these poor people that have to endure this mess

 

[CLdrinker]

Oh shit that’s great question

 

[shintoooo]

Politically I don’t think there’s any way they would do that. I believe they keep their property tax base as long as they build something the same size or smaller sq ft.

 

[SummitKarl]

Politically I don’t think there’s any way they would do that. I believe they keep their property tax base as long as they build something the same size or smaller sq ft.

that's if one wall remains, at least that is how it use to work on renovations, most of those poor folks have no walls left

 

[Ziggy]

So I am reading through the insurance threads and it got me thinking as a former prop 13 property owner, what happens to all the Cali, homes that have to be rebuilt that are passed down to generations, do they stay under the prop 13 rules or did Gavin just hit the jackpot of increased property taxes for these poor people that have to endure this mess

If same sqft as original the pre-existing tax/value will be kept in place, any add-on or additional footage will get added to assessment at current rate. Parent to child transfers with reassessment exemption only applies if child moves into the home, if not owner(child) occupied then it will be reassessed.

 

[Bobby V]

that's if one wall remains, at least that is how it use to work on renovations, most of those poor folks have no walls left

It was brought up in another thread that if they keep the same foot print of the home or close it wouldn’t be affected.

 

[rivrrts429]

So I am reading through the insurance threads and it got me thinking as a former prop 13 property owner, what happens to all the Cali, homes that have to be rebuilt that are passed down to generations, do they stay under the prop 13 rules or did Gavin just hit the jackpot of increased property taxes for these poor people that have to endure this mess

Talk about political suicide if they attempted that move but it wouldn’t surprise me if they attempted a back door way to help fund their DEI hobbies lol

 

[DarkHorseRacing]

You can improve by 10%. After that, grab the lube and bend over.

A lot of people get rebuild fever and put in the biggest house they can get on their property. Reassessment happens and drives up everyone elses taxes not under prop 13. Its a real f u to the rest of the community.

 

[Roosky01]

I have no skin in the game and CA is 8 States away from me, but I can imagine the worst case scenario is probably the most likely.

 

[Cdog]

It’s my understanding that CA allows you to keep your Prop 13 basis as long as the sqft you rebuild is within 120% of the original home

 

[Mandelon]

The governor or mayor's order says up to 110% of the original size. It is in one of their proclamations.

 

[rivermobster]

The governor or mayor's order says up to 110% of the original size. It is in one of their proclamations.

That's what I read as well. Can't remember where though.