Laws, Regulations & Annotations

PTLG Table of Contents > Property Tax Annotations > D > 360.0000 DISASTER RELIEF > 360.0032

Property Taxes Law Guide – Revision 2017

Property Tax Annotations

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D

360.0000 DISASTER RELIEF

Annotation 360.0032

360.0032 Ownership. The new construction exclusion for property damaged or destroyed by misfortune or calamity is available to persons who owned the property when it was damaged or destroyed. If the damaged property is transferred to an eligible transferee for purposes of the parent-child exclusion, no new base year value will be established as a result of the parent-child transfer. However, if the child rebuilds the damaged house, the child will not receive the new construction exclusion. Thus, the new construction will be reassessed upon its completion pursuant to section 71 and section 110.1(a)(2)(B). C 1/24/2011.