Laws, Regulations & Annotations
Property Taxes Law Guide – Revision 2011
Revenue and Taxation Code
Part 2. Assessment
CHAPTER 1. Taxation Base
Article 2.5. Late Exemption Claims*
276.5. Aircraft of historical significance; partial cancellation of tax. If a person claiming the exemption of an aircraft of historical significance under Section 220.5 fails to file the affidavit required by that section by 5 p.m. on February 15 of the fiscal year for which the exemption is claimed, but files that affidavit on or before the following August 1, the assessment shall be reduced by an amount equal to 80 percent of the reduction that would have been allowed had the affidavit been timely filed.
History.—Added by Stats. 2003, Ch.604 (SB 1059), in effect January 1, 2004.
* Article 2.5 was added by Stats. 1971, Ch. 303, p. 615, in effect July 12, 1971, operative for property taxes for the 1970–71 fiscal year and fiscal years thereafter.