Assessor Prang toured the beachfront properties in Long Beach that were severely damaged or destroyed by the high tides and powerful ocean swells generated by Tropical Storm Rachel. These El Nino conditions have impacted coastal properties in Los Angeles and Orange counties. In Long Beach, the damage – ranging from flooding to sinkholes – has resulted in evacuations and in over a dozen cases the red-tagging of compromised properties.
Property tax relief may be available to those who have suffered significant property damage from the recent heavy surf. The Assessor’s Office administers the Misfortune or Calamity (M&C) reassessment program, which provides tax relief to property owners whose property has been damaged or destroyed by a natural disaster.
To qualify, an Application for Reassessment Property Damaged by Misfortune or Calamity (form ADS-820) must be filed with the Assessor’s Office within 12 months of the date of damage, and the physical damage to the property must amount to at least $10,000. The dollar amount associated with damage can be supported by contractor estimates or other evidence of the cost to repair the damage. If approved, the property’s assessment will be reduced. A reduction will remain in effect until the property is restored, repaired or reconstructed, the property is sold, or a tax base transfer occurs.