Plain English Breakdown
The exact scope of what counts as a qualifying improvement depends on regulations not yet written by the State Board of Equalization.
Property Tax Exclusion for Home Hardening Improvements
This law requires the State Board of Equalization to create rules stating that certain home hardening improvements are treated as repairs rather than new construction, so they do not trigger a property tax reassessment.
What This Bill Does
- Requires the State Board of Equalization to adopt rules and regulations about home hardening retrofitting improvements.
- Clarifies that qualifying home hardening improvements on existing structures are considered nonassessable repair and maintenance.
- States these improvements must not add square footage to the structure.
- States these improvements must not change how the property is used.
- States these improvements must not include structural reconfigurations or substantial rehabilitation.
Who It Names or Affects
- The State Board of Equalization
- Owners of existing structures who make qualifying home hardening improvements
Terms To Know
- Reassessment
- When a property is valued again, which can happen when it is newly constructed or ownership changes.
- Home hardening retrofitting improvements
- Improvements made to an existing structure that are defined by the State Board of Equalization rules and do not add space or change use.
Limits and Unknowns
- The specific definition of 'home hardening retrofitting improvement' will be determined in future rules adopted by the State Board of Equalization.
- The bill does not list the exact types of materials or upgrades that qualify until those rules are written.