CA AB2013

Allows owners of property substantially damaged or destroyed by a Governor-declared disaster to apply the original property's base year value to replacement property reconstructed on the same site within 5 years after the disaster.

Defines substantially damaged or destroyed property as improvements sustaining physical damage exceeding 50% of full cash value immediately prior to the disaster.

Requires reconstructed property to be comparable in size, utility, and function to the original property, with full cash value not exceeding 120% of the original property's pre-disaster value to qualify for base year value transfer.

If reconstructed property's full cash value exceeds 120% of the original property, the excess amount plus the adjusted base year value becomes the new base year value for the reconstructed property.

Applies to real property damaged or destroyed by misfortune or calamity on or after January 1, 2017, and prohibits state reimbursement to local agencies for property tax revenues lost under this provision.