Upon receiving a proper application, the Assessor shall verify the amounts claimed on the application in the before and after condition. If the sum of the full cash values of the land, improvements and personalty before damage or destruction exceeds the sum of the values after the damage by $10,000 or more, the Assessor shall also separately determine the percentage reductions in value of land, improvements and personalty due to the damage or destruction. The Assessor shall reduce the values appearing on the assessment roll by the percentages of damage or destruction computed pursuant to Cal. Rev. & Tax. Code § 170, and the taxes due on the property shall be adjusted as provided for in that section; provided, however, the amount of the reduction shall not exceed the amount of the actual loss.

The Assessor shall notify the applicant in writing of the amount of the proposed reassessment. The notice shall state that the applicant may appeal the proposed reassessment to the local Board of Equalization within six months of the date of mailing the notice. If an appeal is requested within the six-month period, the Board shall hear and decide the matter as if the proposed reassessment had been entered on the roll as an assessment made outside the regular assessment period. The decision of the Board regarding the damaged value of the property shall be final; provided, that a decision of the local Board of Equalization regarding any reassessment made pursuant to this section shall create no presumption as regards the value of the affected property subsequent to the date of the damage. The reassessments resulting from those reductions, as determined above, shall be forwarded to the Auditor by the Assessor or the Clerk of the Board, as the case may be. The Auditor shall enter the reassessed values on the roll. After being entered on the roll, said reassessments shall not be subject to review except by a court of competent jurisdiction. (Ord. 941, eff. 4/17/03; Ord. 484, eff. 2/3/77; Ord. 470, eff. 7/15/76; Prior code § 14217)