News & Analysis as of August 21, 2025

Property Owners

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Property Taxes are taxes levied against the owner of property located within a particular jurisdiction. Property taxes are often used to refer to taxes on real property. Property taxation schemes vary depending on the country or jurisdiction. However, a popular system involves a government assessment of the value of a property and a rate based on a proportion of the assessed value. A property may be subject to taxation by multiple taxing entities. less -

A Guide for Property Owners Affected by the 2025 Los Angeles and Ventura Wildfires

Faegre Drinker Biddle & Reath LLP on 3/6/2025

Los Angeles and Ventura counties continue to reel from the devastating firestorm that led Governor Newsom to declare a state of emergency on January 7, 2025. The resulting fires, including the Palisades, Eaton, Hurst, Lidia,...more

IRS Extends Deadline for 1031 Exchanges Affected by the 2025 Southern California Wildfires: Key Points You Need to Know

Greenberg Glusker LLP on 1/17/2025

As a result of the wildfires and straight-line winds that began in Southern California on January 7, 2025, the IRS issued an extension of the 45- and 180-day deadlines for IRC §1031 exchange transactions....more

2025 California Wildfire Tax Relief

Lewitt Hackman on 1/17/2025

The following summarizes some of the available tax relief procedures for taxpayers affected by the Palisades, Eaton, Hurst, and other Los Angeles County wildfires. Answers to commonly asked disaster-related tax questions are...more

Property Tax Relief Available for Los Angeles County Residences Damaged or Destroyed by Wildfires

Fox Rothschild LLP on 1/17/2025

In the wake of the ongoing wildfires in Los Angeles County, our heart goes out to all those affected by this devastating disaster. The destruction has been overwhelming to witness, and the loss of homes, businesses and lives...more

Federal and State Tax Relief Resulting from California Fire

Pillsbury Winthrop Shaw Pittman LLP on 1/17/2025

The Internal Revenue Service (IRS) has provided broad tax relief to taxpayers in Los Angeles County impacted by the recent winds and wildfires. Other counties may be added later....more

What Out-of-State Buyers Should Know About California Real Estate Transfer Taxes

Stoel Rives LLP on 6/19/2023

As Benjamin Franklin once said, “Nothing in this world can be said to be certain, except death and taxes.” For out-of-state buyers unfamiliar with California’s transfer tax system, there are a few things to know to avoid a...more

More Than a Mansion Tax: L.A.’s Measure ULA Will Address the City’s Housing Crisis

Perkins Coie on 4/3/2023

Los Angeles’ United to House LA Measure (Measure ULA), enacted by city voters in November 2022, implements a significant new transfer tax on high-value real estate transfers or sales throughout the city of Los Angeles....more

Sustainable Development and Land Use Update - 2.16.23 #2

Allen Matkins on 2/22/2023

A consortium of San Francisco landlords and property owners filed a lawsuit last week challenging the city’s new tax on vacant residences as unconstitutional and a violation of state law. Proposition M, “The Empty Homes Tax,”...more

Time Is Ticking: Changes to California's Parent-Child Property Tax Reassessment Exclusion Take Effect February 15

Davis Wright Tremaine LLP on 1/21/2021

California voters approved Proposition 19 in November 2020, which updates California's long-standing property tax reassessment rules. There are two major provisions of Prop 19....more

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