Laws, Regulations & Annotations

Property Taxes Law Guide – Revision 2011
 

Revenue and Taxation Code

Property Taxation

Part 2. Assessment

Chapter 3. Assessment Generally

Article 1.7. Valuation of Timberland and Timber*

Section 437

437. Addition to assessed value of a taxing agency. Whenever the debt limit of a taxing agency is based wholly or in part on the assessed value of the agency, there shall be added to such assessed value the assessed valuation equivalents of revenue amounts certified pursuant to Section 27423 of the Government Code.

The assessed valuation equivalents for revenue amounts certified pursuant to Section 27423 of the Government Code shall be derived by multiplying such amounts by a factor of 100 and dividing the product by the secured tax rate for the prior year.

History.—Stats. 1977, Ch. 853, in effect September 17, 1977, substituted "38905" for "38906" in the first paragraph. Stats. 1980, Ch. 1208, in effect January 1, 1981, substituted "38906" for "38905" after the second "Section" in the first paragraph and added the last paragraph. Stats. 1984, Ch. 678, in effect January 1, 1985, deleted "and distributed pursuant to Section 38906 of the Revenue and Taxation Code" after "Government Code" in the first paragraph; deleted "and distributed pursuant to Section 38905 of the Revenue and Taxation Code" after "Government Code" in the second paragraph; and deleted the former third paragraph.

* Article 1.7 was added by Stats. 1976, Ch. 176, p. 320, in effect May 24, 1976. Secs. 20 and 21 thereof provided no payment by state to local governments because of this act. Sec. 22 thereof provided that the property tax assessment provisions shall be applicable to assessments for the 1977–78 fiscal year and thereafter.