CA SB1431

Expands property tax reassessment eligibility to include damage from misfortunes or calamities in areas proclaimed by the Governor to be in a state of emergency, in addition to existing state of disaster declarations.

Defines "damage" to include diminution in property value from tenant protection laws enacted in response to COVID-19, including eviction controls under Executive Orders N-33-20 and N-37-20.

Specifies that the COVID-19 pandemic qualifies as a "major misfortune or calamity" for purposes of property tax relief, with retroactive application to April 5, 2020.

Allows property owners to file reassessment applications within 12 months of the bill's effective date or the time specified in county ordinance, whichever is later.

Becomes effective immediately as a tax levy and imposes state-mandated local program duties on county assessors and boards of supervisors.