SB 1545

Authorizes a county to allow a homestead rebuilt by the same owner on the same lot to replace the homestead destroyed by the September 2020 wildfires to have a specially assessed value equal to the destroyed homestead's real market value for the 2020-2021 property tax year, to the extent of the square footage of the destroyed homestead.

Bill Text

• A-Engrossed
• Enrolled
• Introduced
• Senate Amendments to Introduced

SB1545 authorizes counties to grant a property tax break to homeowners who rebuild their primary residences on the same lot after losing them to the September 2020 wildfires.

Original Bill Text

Sponsors#

Chief Sponsors: Fred Girod, David Brock Smith, Jami Cate

Co-Sponsors: Lynn Findley, Mark Meek, Cedric Hayden, Ed Diehl, Janelle Bynum, Thuy Tran, Virgle Osborne, David Gomberg, Boomer Wright

Overview#

Digest: The Act would grant a property tax break to destroyed homes that were rebuilt after the 2020 wildfires. (Flesch Readability Score: 61.6). Authorizes a county to allow a homestead rebuilt by the same owner on the same lot to replace the homestead destroyed by the September 2020 wildfires to have a specially assessed value equal to the destroyed homestead’s real market value for the 2020-2021 property tax year, to the extent of the square footage of the destroyed homestead. Provides that the specially assessed value continues until the earliest of the date on which the rebuilt homestead is no longer the owner’s principal dwelling, is rented to another person for any duration or is transferred to new ownership. Takes effect on the 91st day following adjournment sine die.

Public Testimony

Legislative History