Malibu Property Owners May Qualify For Tax Relief After High Surf Damage

MALIBU, CA — Malibu property owners whose homes or properties were damaged by recent high tides and powerful ocean swells may be eligible for property tax relief, city officials announced.

The Los Angeles County Assessor's Misfortune or Calamity reassessment program allows property owners to seek a temporary reduction in their property's assessed value following damage from natural disasters, including severe ocean conditions.

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To qualify, properties must have sustained at least $10,000 in physical damage. Owners must submit an Application for Reassessment Property Damaged by Misfortune or Calamity (Form ADS-820) within 12 months of the damage.

Contractor estimates or other documentation of repair costs may be used to support an application.

If approved, the reduced assessment remains in effect until the property is repaired or rebuilt, sold or subject to a tax base transfer.

Property owners can find more information and apply through the Los Angeles County Assessor's website