Los Angeles County property owners now have access to a disaster reassessment program that temporarily reduces their property taxes if storm or flood damage lowers the property’s value by at least $10,000. This program offers much-needed financial relief to residents hit hard by natural disasters, reducing the financial burden of repair and reconstruction.

For many Black homeowners in Los Angeles County, the financial strain of natural disasters is compounded by systemic issues that make recovery more challenging. Racial disparities in wealth and homeownership mean that Black residents often have fewer resources to fall back on when disaster strikes. Programs like the disaster reassessment offer crucial support, helping to stabilize communities that are already facing significant economic pressures.

The reassessment program is not limited to single-family homes. Commercial buildings, agricultural groves, business equipment, boats, aircraft, and certain manufactured homes can also qualify, provided the damage meets the minimum threshold. This broad eligibility ensures that small businesses and agricultural workers, many of whom are Black and Latinx, can also benefit from the financial relief.

The relief provided by the program is significant. Once the damage threshold is met, county appraisers will adjust the property’s taxable value, resulting in a reduced tax bill. Additionally, property owners who have already paid taxes on a property that was subsequently damaged may be eligible for a refund covering the period after the damage occurred. This proactive approach from the Assessor’s Office to identify potentially eligible properties can help reduce the burden on individual owners to seek out the program on their own.

The program’s timing is crucial, coming at a time when forecasters predict a potentially severe storm season. With rising property values and higher insurance costs, this relief can be a lifeline for homeowners and businesses. The extension of the filing window to 24 months for Altadena property owners affected by the Eaton Fire demonstrates a commitment to ensuring that all residents have adequate time to document and navigate their recovery efforts.

Survivors, not victims. It is essential for affected property owners to document their losses and file for reassessment to take full advantage of this program. While the county’s proactive outreach may catch some eligible owners automatically, filing independently remains the safest approach for anyone who experienced significant storm or flood loss.

Originally reported by Rolling Out