In California, there are several programs available to support homeowners in managing property taxes, mortgage payments, and vital records during times of crisis. From tax relief options like Prop 19 to mortgage forbearance and assistance with recovering lost records, here’s what you need to know to safeguard your finances after losing your home in a wildfire. If you have any questions or need further support, we’re here to help every step of the way.
Prop 19: Property Tax Relief for Disaster Victims
Proposition 19, which passed in 2020, provides property tax relief for homeowners who experience a disaster, such as wildfires, that results in the loss of their home. Under this law, you may be able to transfer the taxable value of your destroyed property to a replacement home of greater value within the same county or another county in California with an adjustment to account for the value difference, thereby avoiding a significant increase in property taxes. It’s essential to file for this relief as soon as possible after the disaster.
New tax base calculator: To calculate your potential new tax base, visit the Prop 19 page of the LA County Assessor’s website. Select the Calculators tab at the top and enter your address into the Base Year Value Transfers. Contact us if you need assistance with valuations.
Applicable form: BOE-19-V. To fill out this form, visit the Prop 19 page of the LA County Assessor’s website. Select the Forms tab at the top of the page and download form BOE-19-V.
Click HERE for general info, FAQs, and more.
Misfortune and Calamity Tax Relief
In addition to Prop 19, homeowners who suffer damage or loss due to a disaster may be eligible for misfortune and calamity tax relief, which allows you to request a reassessment of your property’s value, which can lower property taxes during the time you are unable to occupy the property. The loss must exceed $10,000 of current market value and to qualify, you must submit form ADS-820 with the LA County Assessor’s office within 12 months from the date the property was damaged or destroyed.
Applicable form: ADS-820. To fill out this form, visit the Misfortune and Calamity Tax Relief page of the LA County Assessor’s website. Select the Forms tab at the top of the page and download form ADS-820.
Click HERE for general info, FAQs, and more.
Decline-in-Value Review
If your home was significantly damaged or destroyed, you may be able to request a “decline in value” review with the LA county assessor. This process can adjust your property’s assessed value downward, reflecting the damage caused by the disaster. By having your property reassessed, you may be able to lower your property taxes until the property is repaired or rebuilt. You’ll need to provide documentation of the damage, such as photographs or estimates, to support your request. To qualify, you must submit a Decline-in-Value Review Application form RP-87 with the LA County Assessor’s office between July 2 through November 30.
Applicable form: RP-87. To fill out this form, visit the Decline-in-Value page of the LA County Assessor’s website. Select the Forms tab at the top of the page and download form RP-87.
Click HERE for general info, FAQs, and more.
What to Do About Your Mortgage
First, contact your lender immediately to inform them of the situation. Many lenders offer forbearance options or disaster relief programs that may allow you to temporarily defer payments while you navigate the recovery process. Make sure to ask about any available disaster relief programs that can help you avoid penalties or negative impacts on your credit. In some cases, lenders may be able to offer loan modifications, such as extending the repayment period or adjusting the interest rate, to help ease the burden.
270 state-chartered banks and credit unions, along with major national banks like Bank of America, JPMorgan Chase, Citi, U.S. Bank, and Wells Fargo, will provide mortgage relief to fire survivors in designated Los Angeles and Ventura County zip codes, including: 90019, 90041, 90049, 90066, 90265, 90272, 90290, 90402, 91001, 91104, 91106, 91107, or 93536.
The relief includes up to 90-day forbearance, late fee waivers, and moratoriums on new foreclosures for 60 to 90 days for qualified borrowers whose properties were damaged or destroyed by the LA fires.
Vital & Property Records
Los Angeles County residents directly impacted by fires who lost vital records (deeds, insurance, birth certificate, etc.) can request property and vital records free of charge to help with recovery efforts from the Los Angeles County Registrar-Recorder/County Clerk’s Office.
Vital Records: Call (888) 985-9913 or email your request with specific information to recorder@rrcc.lacounty.gov.
Property Records: Call 800-201-8999 and select Option 3 or email your request with specific information to recorder@rrcc.lacounty.gov.
We’re here for you, today and always. Reach out to us if you or your loved ones need assistance with housing, recovery options, or connections to trusted professionals like insurance providers, architects, builders, or furniture rental services.
For additional resources, check out our other blogs:
- Palisades and Eaton Fire Recovery Resources and Support blog.
- 5-Step Wildfire Recovery Guide After Losing Your Home
russellandtony@compass.com
(310) 230-5771