Skip to main content
Loading…
This section is included in your selections.

The assessed value of the property in its damaged condition, as determined pursuant to subsection (B) of this section compounded annually by the inflation factor specified in subdivision (a) of Cal. Rev. & Tax. Code § 51, shall be the taxable value of the property until it is restored, repaired, reconstructed or other provisions of the law require the establishment of a new base year value.

If partial reconstruction, restoration, or repair has occurred on any subsequent lien date, the taxable value shall be increased by an amount determined by multiplying the difference between its factored base year value immediately before the calamity and its assessed value in its damaged condition by the percentage of the repair, reconstruction, or restoration completed on that lien date.

When the property is fully repaired, restored, or reconstructed, the Assessor shall make an additional assessment or assessments in accordance with subsections (A) or (B) of this section upon completion of the repair, restoration, or reconstruction:

A. If the completion of the repair, restoration, or reconstruction occurs on or after January 1st, but on or before May 31st, then there shall be two additional assessments. The first additional assessment shall be the difference between the new taxable value as of the date of completion and the taxable value on the current roll. The second additional assessment shall be the difference between the new taxable value as of the date of completion and the taxable value to be enrolled on the roll being prepared.

B. If the completion of the repair, restoration, or reconstruction occurs on or after June 1st, but before the succeeding January 1st, then the additional assessment shall be the difference between the new taxable value as of the date of completion and the taxable value on the current roll.

On the lien date following completion of the repair, restoration, or reconstruction, the Assessor shall enroll the new taxable value of the property as of that lien date.

For purposes of this subsection, “new taxable value” shall mean the lesser of the property’s (1) full cash value, or (2) factored base year value or its factored base year value as adjusted pursuant to subdivision (c) of Cal. Rev. & Tax. Code § 70.

The Assessor may apply California Revenue and Taxation Code, Division 1, Part 0.5, Chapter 3.5 (commencing with Cal. Rev. & Tax. Code § 75) in implementing this section, to the extent that chapter is consistent with this portion of the Sierra County Code. (Ord. 941, eff. 4/17/03; Ord. 484, eff. 2/3/77; Ord. 470, eff. 7/15/76; Prior code § 14227)