Los Angeles County Municipal Code Ch. 4.66 Taxation of Replacement Property Acquired Following a Disaster

Any person owning property which is substantially damaged or destroyed following a disaster may transfer, subject to the conditions and limitations provided in Section 69.3 of the Revenue and Taxation Code, the base year value of that property, provided that the property is located in the state of California, to any replacement dwelling of equal or lesser value which is located within Los Angeles County and is purchased or newly constructed by that person within three years of the date of the loss by that person of the original property.

(Ord. 94-0090 § 2 (part), 1994.)

All claims for transfers of base year value from original property located in another county in California shall be granted, if the claims meet the applicable requirements of both subdivision (e) of Section 2 of Article XIIIA of the California Constitution and

Section 69.3 of the Revenue and Taxation Code. All claims for transfers of base year value shall be filed with the assessor, on forms prescribed by the State Board of Equalization for this purpose. The assessor shall make the claim forms available to prospective claimants.

(Ord. 94-0090 § 2 (part), 1994.)

In determining the base year valuation of original property located in another county, the base year valuation as determined by the assessor of such other county shall be accepted by the assessor of this county, in connection with the granting of claims for transfers of base year value.

(Ord. 94-0090 § 2 (part), 1994.)