CA SB663

Extends the deadline to reconstruct damaged property and retain the original base year value from 5 years to 8 years for properties substantially damaged or destroyed by the 2025 Palisades, Eaton, Hurst, Lidia, Sunset, or Woodley Fires, or the 2024 Mountain or Franklin Fires (November 1, 2024 through January 31, 2025)

Extends the deadline to file property tax reassessment applications from 12 months to 24 months for properties damaged by the specified 2024-2025 winter fires

Deems property eligible for the disabled veteran's property tax exemption even if the dwelling was completely destroyed in a Governor-declared disaster, provided the veteran intends to rebuild and the property has not changed ownership

Allows properties that received use-based tax exemptions (such as for nonprofit or charitable purposes) in 2025 to retain those exemptions despite fire damage, provided no ownership change occurred and the claimant demonstrates intent to rebuild by December 31, 2033

Takes effect immediately as an urgency statute to provide economic relief to wildfire victims in Los Angeles and Ventura Counties, with no state reimbursement to local agencies for lost property tax revenues