Laws, Regulations & Annotations
Property Taxes Law Guide – Revision 2011
Revenue and Taxation Code
Part 0.5. Implementation of Article XIII A of the California Constitution
Chapter 6. Allocation of Property Tax Revenue
Article 6. Miscellaneous Provisions
100.1. County allocations; railway companies 1988–89 to 2006–07. Notwithstanding any other provision of law, for the 1988–89 to 2006–07 fiscal years, inclusive, property tax assessed value attributable to unitary property, as defined in Section 723, of a regulated railway company that is assessed by the State Board of Equalization, shall be allocated to tax rate areas as follows:
(a) Each tax rate area shall receive an amount of assessed value equal to the amount of assessed value received in the prior fiscal year adjusted for changes in track mileage unless the total amount of assessed value to be allocated is insufficient, in which case, each tax rate area shall receive a pro rata share of the amount it received in the prior fiscal year adjusted for changes in track mileage.
(b) If the total amount of assessed value to be allocated is greater than the amount of assessed value allocated in the prior fiscal year adjusted for changes in track mileage, each tax rate area shall receive a pro rata share of the amount in excess of the prior year's assessed value of the regulated railway company adjusted for track mileage.
(c) If a tax rate area is divided, the prior fiscal year amount of assessed value of the unitary property of the regulated railway company shall be divided among the resulting tax rate areas in the same proportion that the track mileage on unitary property is divided among the resulting tax rate areas.
(d) The assessed value allocated to each tax rate area under subdivision (a), (b), or (c) shall be further allocated between land, improvements, and personal property in the same proportion as existed for each regulated railway company statewide in the 1987–88 assessment year.
(e) For purposes of this section:
(1) "The amount of assessed value received in the prior fiscal year adjusted for changes in track mileage" means the prior year's amount of assessed value in each tax rate area after it has been adjusted upward or downward in direct proportion to the change in the amount of track mileage on unitary property in the current year over the prior year.
(2) "Track mileage" means the number of miles of track adjusted to reflect the relative importance of mainline, branch, and other track.
(f) This section is repealed on July 1, 2007.
History.—Stats. 2006, Ch. 791 (AB 2670), in effect January 1, 2007, substituted "for the 1988–89 to 2006–07 fiscal years, inclusive," for "commencing with the 1988–89 fiscal year," after "provision of law," in the first sentence of the first paragraph and added subdivision (f).