Laws, Regulations & Annotations

Property Taxes Law Guide – Revision 2012
 

Revenue and Taxation Code

Property Taxation

Part 2. Assessment

CHAPTER 1. Taxation Base

Article 2.5. Late Exemption Claims*

Section 276.3

276.3. Disabled veterans' exemption; property transferred after lien date. (a) In the event that property receiving a disabled veterans' exemption as described in Section 205.5 is sold or otherwise transferred to a person who is not eligible for that exemption, the exemption shall cease to apply on the date of that sale or transfer.

(b) In the event that property receiving a disabled veterans' exemption as described in Section 205.5 is no longer used by a claimant as his or her principal place of residence, the exemption shall cease to apply on the date the claimant terminates his or her residency at that location.

(c) Termination of the exemption under this section shall result in an escape assessment of the property pursuant to Section 531.1.

History.—Added by Stats. 2000, Ch. 922 (AB 2562), in effect September 29, 2000, and added by Stats. 2000, Ch. 1085 (SB 1362), in effect September 30, 2000. Stats. 2002, Ch. 775 (SB 2092), in effect January 1, 2003, designated the former first paragraph as subdivision (a) and substituted "who" for "that" after "to a person" in the first sentence therein, and added subdivisions (b) and (c).

Note.—Section 5 of Stats. 2000, Ch. 922 (AB 2562), and Section 9 of Stats. 2000, Ch. 1085 (SB 1362), provided that notwithstanding Section 2229 of the Revenue and Taxation Code, no appropriation is made by this act and the state shall not reimburse any local agency for any property tax revenues lost by it pursuant to this act.

* 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.