I originally created this post in 2017, but with the fires of 2019 I thought I needed to update the info for the victims of the 2019 fires.
Also, as a result of the fires, many homeowners have had policies cancelled, even though their homes did not burn. Additionally, many home buyers who are looking at foothill neighborhoods are finding that the cost of insurance is now several thousand dollars per year because of the cost of the fires. One of my local agents, Blake Mori, told us that your homeowners should ask their agents about the California Fair Plan Property Insurance program. I am not a homeowners insurance agent and don’t know the ins and outs of insurance, but if you need more info and your insurance agent cannot answer your questions, let me know and I will put you in touch with Blake.
Please pass this on to your friends who have lost their homes or have experienced at least $10,000 in property damage due to the fires.
Fire victims are eligible for a program that temporarily reassesses their property to reflect a lower value based on its damaged condition.
Once you rebuild, a county official restores the property to the assessment value it held before the fire.
To qualify, property owners must first file a claim with their county assessor. You have up to one year to apply for the tax relief.