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Eligibility for a Temporary Exemption Property Damage by Disaster

  • March 9, 2021

A new exemption is available to commercial, residential, and personal property used for production that suffered damage during a statewide Disaster Declaration. You may be eligible for this exemption if the cost of damages is at least 15% of the total of your improvement value.

You can file for the exemption and include supporting documentation such as photos, insurance estimates, dated repair receipts or other evidence of costs incurred. Exemption requests must be submitted by the 105th day after the disaster is declared by the governor. In the case of Winter Storm Uri, the deadline is May 28th 2021.

There are 4 assessment levels of damage which include:

  1. Level 1 – 15%: Damage is at least 15% of the total value but not more than 30%
  2. Level 2- 30%: Damage is at least 30% but not more than 60%.
  3. Level 3- 60%: Property is damaged at least 60% but not a total loss. Damage is now structural.
  4. Level 4- 100%: Property damage is total or not possible to repair

To calculate the percentage loss, use the current year improvement valuation. If your improvements are valued for $100,000 then $20,000 in losses would put you in the Level 1 category because it totals 20% of value. If your improvements are valued for $500,000, however, then $20,000 would only be worth 4% of your value and you would not be eligible.

Once the exemption is approved, then it will be prorated through to the end of the year.

To apply, contact our office or your local appraisal district for the appropriate forms.