Laws, Regulations & Annotations

Property Taxes Law Guide – Revision 2011
 

Revenue and Taxation Code

Property Taxation

Part 0.5. Implementation of Article XIII A of the California Constitution

Chapter 3.5. Change in Ownership and New Construction After the Lien Date

Article 1. Definitions and General Provisions

Section 75.9

75.9. "Taxable value." "Taxable value" means the base year full value adjusted for any given lien date as required by law or the full cash value for the same date, whichever is less. In the case of real property which, prior to the date of the change in ownership or completion of new construction, was assessed by the board pursuant to Section 19 of Article XIII of the California Constitution, "taxable value" means that portion of the state-assessed value determined by the board to be properly allocable to the property which is subject to the supplemental assessment.

History.—Added by Stats. 1983, Ch. 1102, in effect September 27, 1983. Stats. 1987, Ch. 498, in effect January 1, 1988, deleted "and includes" after "means" in the first sentence, and added the second sentence.