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Gavin Newsom has extended the solar property tax exemption for 2 more years. The exclusion was set to expire in 2024, but the governor’s recent signing of SB 1340 pushes the expiration date out to 12/31/2026. Meaning, when you invest in solar, the county may not reassess the value of your home, which would trigger an increase in your property taxes. Before the exemption was set to expire in 2014, Governor Jerry Brown extended it for another 10 years. I had hoped Newsom would do likewise, considering his goal for CA is to be 100% powered by clean energy in 2045, but a mediocre 2-year extension doesn’t surprise me. Where former governors Arnold Schwarzenegger and Jerry Brown actually championed roof top solar adoptions, Newsom has only ever worked behind the scenes to do favors for PG&E, appoint corrupted CPUC members and make solar more expensive for Californians.
In a statement after signing SB 1340, Newsom said, “This policy has a direct impact on property tax revenues that support essential services at the local level. I believe this two-year extension strikes an appropriate balance between ensuring that Covid delayed solar projects are brought online quickly, while recognizing the impacts on local governments.”
Before we give him a pat on the back, let’s just be real for a minute. Are there any solar projects in CA still not commissioned, up and running because of Covid delays? He's got to be kidding. Furthermore, this exclusion has been on the books for 42 years in California. Counties have been getting along just fine for decades without imposing a solar property tax. The solar property tax exemption, for as long as we have it, is not grandfathered to the new home buyer when you sell your home.