Laws, Regulations & Annotations

Property Taxes Law Guide – Revision 2012
 

Revenue and Taxation Code

Property Taxation

Part 2. Assessment

Chapter 3. Assessment Generally

Article 1.5. Valuation of Open-Space Land Subject to an Enforceable Restriction*

Section 430.5

430.5. Enforceable restriction required. No land shall be valued pursuant to this article unless an enforceable restriction meeting the requirements of Section 422 is signed, accepted, and recorded on or before the lien date for the fiscal year to which the valuation would apply. To provide counties and cities with time to meet the requirement of this section, the land that is to be subject to a contract shall have been included in a proposal to establish an agricultural preserve submitted to the planning commission or planning department, or the matter of accepting an open-space easement or scenic restriction shall have been referred to that commission or department on or before October 15 preceding the lien date to which the contract, easement or restriction is to apply.

History.—Added by Stats. 1974, Ch. 253, p. 468, in effect May 15, 1974, operative with respect to assessments for the 1975–76 fiscal year and thereafter. Stats. 1976, Ch. 176, p. 320, in effect May 24, 1976, renumbered the section which was formerly numbered 432. Stats. 1997, Ch. 941 (SB 542), in effect January 1, 1998, substituted "provide" for "assure" before "counties", added "with" before "time", substituted "that" for "which" after "land", substituted "that" for "such" before the second "commission" and substituted "October 15" for "December 15" before "preeceding" in the second sentence.

Note.—Section 2 thereof provided that notwithstanding any other provision of law to the contrary, the assessment procedures specified under Sections 423 and 423.5 of the Revenue and Taxation Code shall be effective with respect to land subject to taxation for the 1974–1975 fiscal year, if such land is subject to an instrument meeting the requirements of Section 422 of the Revenue and Taxation Code and such instrument is signed and recorded on or before May 15, 1974; provided, that prior to 5 o'clock p.m. on March 1, 1974, either the land which is subject to a contract was included in a proposal to establish an agricultural preserve submitted to the planning commission or planning department or the matter of accepting an open-space easement or scenic restriction had been referred to such commission or department. This section does not apply to land valued pursuant to Section 423.7 of the Revenue and Taxation Code. Section 4 thereof provided that land assessed pursuant to the provisions of Section 2 shall be included for purposes of computing subventions to local government pursuant to Chapter 3 (commencing with Section 16140) of Part 1 of Division 4 of Title 2 of the Government Code for losses due to such assessment procedures for the 1974–1975 fiscal year. Such subventions to local government satisfy the requirements of Section 2229 of the Revenue and Taxation Code.

* Stats. 1969, p. 1930, in effect November 10, 1969, repealed Section 4 of Stats. 1967, p. 3651, which made Article 1.5 operative only until the 61st day following adjournment of the Regular Session of the 1970 Legislature.