This application must be filed within 12 months after date of loss.
Section 170 of the Revenue and Taxation Code of the State of California contains provisions for reassessment of property damaged or destroyed by misfortune or calamity. A brief summary of eligibility requirements is as follows:
- The application must be made by the person who, on the lien date (January 1), was the owner of or had in his possession or under his control, the taxable property which suffered damage, or by a person who acquired the property after the lien date and is liable for the taxes for the next fiscal year commencing July 1.
- The damage must have occurred by misfortune or calamity, without fault of the owner.
- The application must be delivered to the assessor within 12 months of the date of calamity or misfortune.
- The damage must be shown to be in excess of ten thousand ($10,000) dollars.