Government Agencies Begin Reassessing Property Values After Thomas Fire And Montecito Flood

Jan 26, 2018

The recent disasters have impacts that are reaching to the county budgets in Santa Barbara and Ventura County.

Clerk-recorder assessor Joe Holland in Santa Barbara says already, due to the impacts from the Thomas Fire, 37 properties have been reassessed downward, for a total of $163 million.

For the mudflow event, that downward hit will be much greater.

"The flood event is a little different situation, because in some cases you not only have the houses completely gone, but the lot is destroyed as well, so we may be removing ALL of the assessed value,"  says Holland.

He also says that reassessments on the ground and in the air are taking place right now.