Laws, Regulations & Annotations

Property Taxes Law Guide – Revision 2011
 

Revenue and Taxation Code

Division 2. Other Taxes

Part 18.5. Timber Yield Tax

Chapter 3. Determination of Rates

Section 38202

38202. Adjustment of yield tax rate. During December, 1978, and December of each subsequent year, after public hearings, the board shall adjust the yield tax rate to the nearest one-tenth of 1 percent in the same proportion that the average rate of general property taxation in the rate adjustment counties in the current tax year differs from the average rate of general property taxation in the rate adjustment counties in the preceding tax year. The board shall compute the average rate of general property taxation in the rate adjustment counties by (a) adding the county, city, school district, and other general taxes, but not the special taxes on intangibles, aircraft, or any other property, which is subject to a uniform statewide tax rate, nor special assessments, and (b) dividing the amount obtained by the total assessed valuation in the rate adjustment counties, exclusive of the homeowners' and business inventory exemptions, as shown by the county tax rolls for the same year.

"Total assessed valuation," as used in this section, does not include the assessment of property which is subject to a uniform statewide tax rate.

"Special assessment" as used in this section, means any amount levied solely against land or land and improvements.

When calculating the yield tax rate for the 1981–82 fiscal year, the 1980–81 average rate of general property taxation should first be divided by four.

History.—Stats. 1977, Ch. 853, in effect September 17, 1977, deleted "except real property" between "other property," and "which" in the second sentence of the first paragraph. Stats. 1978, Ch. 1109, in effect September 26, 1978, deleted the phrase in the first sentence "On or before December 31, 1978, and December 31" and replace it with "During December, 1978, and December". Stats. 1980, Ch. 1208, in effect January 1, 1981, added the fourth paragraph. Stats. 1981, Ch. 261, in effect January 1, 1982, deleted "baled cotton" after "aircraft," in the second sentence of the first paragraph.