SB 663: Winter Fires of 2025: real property tax: exemptions and reassessment.

This bill amends existing laws to provide exemptions and reassessment for property damaged or destroyed by wildfires in certain areas. It extends the time period for reassessment to 24 months after the fires for properties damaged by the 2025 wildfires or the 2024 wildfires. The bill also deems a veteran's property as their principal place of residence if their home was completely destroyed in a disaster. Additionally, it makes properties eligible for a use-based exemption if they were previously exempt for a specific purpose but are no longer used for that purpose due to damage from the wildfires. The bill does not require reimbursement for certain mandates, but if the commission on state mandates determines that the bill contains costs so mandated by the state, reimbursement for those costs will be made. The bill takes effect immediately.