Disaster Relief Legislation Includes Tax Breaks for Fire Victims

http://www.noozhawk.com/noozhawk/article/070308_legislation_would_provide_relief_to_homeowners_affected_by_fire/

By John Mann

Assemblyman Pedro Nava, D-Santa Barbara, chairman of the Joint Committee on Emergency Services and Homeland Security, announced Thursday that disaster relief legislation is being drafted for victims of the Gap Fire.

“My measure will bring much-needed assistance to those who suffer losses and devastation as a result of the Gap Fire,” Nava said. “Property owners should not be penalized when a natural disaster strikes. The state owes it to its residents and local governments to provide much-needed relief when a disaster occurs.”

Specifically, the legislation would allow victims whose homes were damaged to receive a homeowner’s property tax exemption while the home is being repaired or rebuilt, even if the owner can’t live in the property during that time.

Additionally, it would allow taxpayers to deduct excess disaster losses not compensated for by insurance, for up to five years on income-tax returns. It would provide state reimbursements of local property tax losses to the counties resulting from the downward property tax assessments of properties damaged by the fire.

John Mann represents Assemblyman Pedro Nava.

http://www.noozhawk.com/noozhawk/article/070308_legislation_would_provide_relief_to_homeowners_affected_by_fire/