Legislative update: disaster-relief bills signed; sales-ratio studies and rail assessment process ongoing
Summary
Ted Angelo reported that the governor signed disaster-relief legislation relevant to January wildfire relief and a mortgage-forbearance bill; his division continues to track two-year bills and is conducting annual sales-ratio studies used to equalize rail property assessments under rev & tax code section 1817.
Ted Angelo, chief of the Legislative Research and Statistics Division, told the board the Legislature concluded action for the year and the governor had until Oct. 13 to act on bills. Angelo summarized that several disaster-relief bills were signed and will take effect Jan. 1, and he highlighted mortgage-forbearance language intended to allow up to 12 months of forbearance in three-month increments for homeowners affected by January wildfires.
Angelo said his staff will continue to monitor two-year bills when the Legislature reconvenes in January and noted uncertainty about which two-year measures will move forward, particularly where committee holds and rule waivers are concerned.
He also described the division's annual sales-ratio study process, required by rev and tax code section 1817, which determines statewide and county-level ratios of assessed to fair-market value for locally assessed commercial and industrial properties; those ratios are used for equalizing rail-owned properties for assessment. Angelo said the staff is working on that survey and coordinating with county assessors.
The presentation was followed by board-member questions about the status of specific hardening and home-hardening proposals; Angelo said there were rumblings about property-tax implications but that no active property-tax home-hardening bills affecting BOE operations were in the active two-year session at this time.
