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Rebuilding Your Damaged or Destroyed Property

After your property is rebuilt, you will retain your previous factored base year value on the property if it is rebuilt in a like or similar manner (substantially equivalent) as determined by the Assessor, regardless of the cost of construction. The County Assessor will reinstate a portion of the factored base year value if construction is in progress as of each January 1 lien date until the construction is complete. Once complete the Assessor will issue a Supplemental Assessment to fully restore the factored base year value.

Rebuild from any Disaster or Calamity (including Governor-proclaimed disaster)

Form: No Form Required

Once you have received property tax relief under California law (R&TC section 170) as described above, if you timely rebuild your damaged or destroyed real property on the same site such that it is in a like or similar matter (substantially equivalent) to the property prior to the damage or destruction, its factored base year value will be reinstated, as provided for in California law [R&TC section 170(h)]. You will not have to pay an increase of property taxes based on the market value or cost of your rebuilt property. However, any rebuilt property that exceeds the definition of substantially equivalent, as determined by the Assessor is considered new construction where that portion will be assessed at market value and added to the existing factored base year value pursuant to California law [R&TC section 70(c)].

Example 1: A 2,200-square-foot home with a factored base year value of $300,000 was completely destroyed by a fire. The owner rebuilds the home to the same size and function (2,200 square feet) without making any significant changes, such as adding a bathroom or fireplace. Since the rebuilt home is substantially equivalent to the destroyed home, the factored base year value of $300,000 is fully reinstated, regardless of the cost of construction.

Example 2: A 2,200-square-foot home with a factored base year value of $300,000 was completely destroyed by a fire. The owner rebuilds the home but increases the size to 3,000 square feet. The additional 800 square feet will be assessed as new construction because it exceeds the destroyed home substantially. The new construction has a market value of $200,000.

The rebuilt home will have two separate base year value components:

  • $300,000 for the original 2,200 square feet, and
  • $200,000 for the additional 800 square feet.

Rebuild from Governor-proclaimed disaster (Applicable when the Rebuild is not Substantially Equivalent as Determined by the Assessor)

Form: No form required

Pursuant to California law (R&TC section 70.5), real property that is rebuilt on the same site after being substantially damaged or destroyed by a Governor-proclaimed disaster may have its factored base year value reinstated if the reconstructed property’s market value is comparable to the damaged property in size, utility, and function.

“Substantially damaged or destroyed” means that the improvement must sustain physical damage amounting to more than 50 percent of the improvement’s (structure) full cash value immediately prior to the disaster as determined by the Assessor. “Comparable in size and utility” means that the reconstructed property may not exceed 120 percent of the market value of the property prior to its damage or destruction. If it exceeds 120 percent of the market value, the excess market value is added to the adjusted base year value, resulting in a new base year value. The property must be rebuilt within five years of the disaster.

Example 1: A fire destroyed a 2,200-square-foot single-family residence in November 2024. The home was the principal residence of the owners. The property had a base year value of $300,000 and the structure had a fair market value of $450,000 prior to the damage.

The residence was rebuilt within five years, but the new home is 3,000 square feet and the structure has a fair market value of $500,000. There is no excess value to be added. Since the new home's value does not exceed 120% of the pre-damage fair market value of the structure, the property retains the original $300,000 factored base year value.
  • $450,000 × 1.20 = $540,000
  • $500,000 - $540,000 = $0
Example 2: A fire destroyed a 2,200-square-foot single-family residence in November 2024. The home was the principal residence of the owners. The property had a base year value of $300,000 and the structure had a fair market value of $350,000 prior to the damage.

The residence was rebuilt within five years, but the new home is 3,000 square feet and the structure has a fair market value of $500,000. Since the new fair market value exceeds 120% of the pre-damage value, excess value must be added. The $80,000 in excess value will be added to the factored base year value of $300,000, adjusted to the year in which the home was rebuilt.

  • $350,000 × 1.20 = $420,000
  • $500,000 - $420,000 = $80,000