Residents affected by the Station fire and subsequent winter storms could soon see some financial relief after state legislators on Tuesday passed a bill that would offer tax breaks for damaged properties.
The so-called "Disaster Relief Bill" — co-authored by Assemblyman Anthony Portantino (D-La Cañada Flintridge) and Assemblyman Kevin Jeffries (R-Lake Elsinore) — would provide state property tax breaks to homeowners whose homes were damaged or destroyed in last year's natural disasters.
The bill, which now awaits Gov. Arnold Schwarzenegger's signature, would go into effect immediately.
"It's a great bill, and we are very excited it got through with such bipartisan support," Portantino said. "Let's hope the governor signs it."
The proposed tax relief would help residents for years to come, he said.
In the short term, the tax liability for affected residents would be re-evaluated to reflect damage to the property. It would also allow people whose homes were destroyed to retain certain homeowner tax exemptions while they are in the process of rebuilding.