This past month was one of devastation in a portion of Palos Verdes Peninsula, known as Rolling Hills Estates, where a massive landslide resulted in more than a dozen homes getting red-tagged as uninhabitable and several families being displaced and to this day the potential for more damage is still possible.
Assessor Jeff Prang visited the area the day after many of these homes were red-tagged by the Los Angeles County Fire Department to visit with homeowners and inform them that there will be relief when it comes to property taxes. On hand along with Assessor Prang was L.A. County Supervisor Janice Hahn, L.A. County Fire Chief Anthony Marrone as well as several other local officials.
“My entire Office extends our sincerest regard for this unforeseen occurrence in Rolling Hills Estates and we are ready to offer assistance,” Assessor Prang said to the media at the time. “It’s understandable that property owners affected by this landslide would not be thinking about their property taxes at this time, but I wanted to remind them there is property tax relief available.”
Assessor Prang, along with experts from his office met with the property owners after the press conference to explain the availability of this tax relief in the form of the Misfortune & Calamity (M&C) program. Assessor Prang explained that for those homeowners who have suffered damage or destruction from this landslide, or any other natural disaster, for that matter, such as earthquakes, floods or fires, they can apply to have the assessed value of their property – the value upon which their property taxes are based – reduced to reflect the damage.
By filing a claim for M&C relief within one year of the incident, properties that have sustained a minimum of $10,000 in damages may be eligible for a refund of taxes already paid as well as lower annual tax bills until the property is repaired or rebuilt. Assessor Prang's office has been working proactively to identify the properties affected and move the process forward.
Just as one example, these types of reassessments led to more than $3 million in property tax relief a few years back during a significant event known as the Woolsey Fire. This relief was granted in the form of refunds and adjustments to the 2018/2019 tax bills.
Article Courtesy of County of Los Angeles Office of the Assessor, All rights reserved.