Assessor outlines property tax relief programs for disaster victims in Pico Rivera

The Pico Rivera City Council meeting on March 11, 2025, focused on vital programs aimed at assisting residents affected by natural disasters and promoting property tax savings. The discussion highlighted two primary initiatives: the Misfortune and Calamity program and the Decline in Value program.

The Misfortune and Calamity program allows property owners whose homes have been damaged or destroyed by disasters, such as fires or floods, to have their property reassessed. If a property is completely destroyed, its assessed value can be reduced to zero. For partially damaged properties, the value is adjusted proportionally, provided the damage exceeds $10,000. Homeowners must apply within 12 months to qualify, and their property taxes will be deferred until a new tax bill is issued.

The Decline in Value program is designed for homes that, while not destroyed, have lost value due to their location in affected areas. This program enables property owners to lower their assessed value until market conditions improve.

Additionally, the meeting addressed the Homeowners Exemption, which offers tax savings to homeowners who occupy their properties. It was noted that approximately 40% of eligible residents in Pico Rivera do not apply for this exemption, primarily due to a lack of awareness. City officials were encouraged to promote this program to help residents save money on their property taxes, which could amount to about $70 annually.

The meeting also introduced the Homeowner Alert program, aimed at protecting property owners from fraud and title scams. This free service allows homeowners to register their email addresses to receive alerts if any changes are made to their property records.

In conclusion, the City Council emphasized the importance of these programs in providing financial relief to residents and urged community members to take advantage of the available resources. The meeting underscored the city's commitment to supporting its residents during challenging times and ensuring they are informed about potential savings on property taxes.