After the Riots / NEWS IN BRIEF : TAX RELIEF : Deadline Set for Property Reassessment
Owners of properties damaged in the riot have until June 30 to file an application for reappraisal with the Los Angeles County assessor. The state tax code allows any property that suffers a loss of at least $5,000 because of vandalism, fire or water damage to qualify for property tax relief. A reassessment of property value may result in a lower tax bill.
Once a property is reassessed, the owner gets a prorated refund of taxes that were paid on Dec. 10 and April 10. The owner will also receive a reduction in the March 1 assessment and a corresponding reduction in tax bills next December, next April and in future years.
More information is available from the Los Angeles County assessor’s office, 213 974-8658.
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