California BOE Announces Property Tax Relief for Taxpayers Impacted by Recent Wildfires

The California State Board of Equalization (BOE) issued a press release announcing that property owners impacted by the current wildfires in Los Angeles County may be eligible for property tax disaster relief. Affected properties that have experienced at least $10,000 in damage may qualify for a temporary reduction in property taxes, with some taxes refunded if already paid, and the pre-damaged property value will be restored once rebuilt, effective immediately. [Cal. State Bd. of Equalization, News Release, 01/14/25]

This story was produced by Bloomberg Tax Automation, and edited by Bloomberg Tax staff.