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SB 293

Real property tax: transfer of base year value: generational transfers: wildfire.

2025-2026 Regular Session Introduced by Sasha Pérez

SB 293 allows California wildfire victims to transfer lower assessed property values to replacement properties, reducing their tax burden during recovery from fire damage.

Chaptered by Secretary of State. Chapter 539, Statutes of 2025.
#realpropertytax #generationaltransfers #transferofbaseyearvalue #wildfire
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Bill Summary · SB 293

Legislative bill overview

SB 293 modifies California's Proposition 13 property tax rules to allow certain property owners affected by wildfires to transfer their property's base year value (the assessed value used for tax calculations) to a replacement property. This creates an exception to the standard rule where property reassessment typically occurs upon transfer, potentially resulting in lower property taxes for wildfire victims rebuilding or relocating.

Why is this important

California's Proposition 13 caps property tax increases at 2% annually regardless of market value changes, but reassesses property at full market value when it transfers ownership. This bill provides tax relief to wildfire survivors, who often face both the costs of rebuilding and purchasing replacement properties at current market prices. The measure aims to reduce financial burden during recovery while maintaining revenue by limiting the exception to specific circumstances.

Potential points of contention

  • Scope and eligibility: Questions remain about which wildfire victims qualify, how properties are defined as "replacement," and whether the policy adequately covers all affected Californians or creates gaps
  • Revenue impact: Local governments and schools depend on property tax revenue; transferring base year values reduces assessed values and corresponding tax income, though the full fiscal impact remains unclear
  • Fairness concerns: Critics may argue this creates unequal treatment between wildfire victims and other property owners, while supporters counter it addresses an extraordinary circumstance beyond individual control

Compiled from official sources — confirm details with the bill’s official record.

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