Governer Signs Sen. Cox’s Angora Fire Measure |

Governer Signs Sen. Cox’s Angora Fire Measure

Legislation to help those who lost their homes in South Lake Tahoe’s Angora Fire has been signed into law by the Gov. Arnold Schwarzenegger.

Effective immediately, the move will provide tax relief to residents who lost their homes and to fully reimburse the County of El Dorado for property taxes lost as a result of the fire. Sen. David Cox co-authored the measure, AB 62, with Assemblyman Pedro Nava (D-Santa Barbara).

“The Angora fire destroyed hundreds of homes and affected thousands of lives. After several visits to the area to see the devastation first hand, I went back to Sacramento and reached across the political aisle to find relief for Tahoe residents. I appreciate Assemblyman Pedro Nava and the Governor for their efforts,” Cox said in a release.

The proposed legislation will help property owners burned-out by the fire by lowering assessed property taxes. It will qualify affected homeowners and El Dorado County for various forms of government assistance and tax relief.

Specifically, AB 62 provides state reimbursements of local property tax losses to counties resulting from the downward property tax assessments of properties damaged by wildfires.

This bill also allows the victims whose homes were damaged to continue to receive the homeowner’s property tax exemption while their homes are being repaired or rebuilt even if they cannot live on the property during that time. AB 62 allows taxpayers to deduct excess disaster losses not compensated for by insurance, for up to five years on income tax returns.

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