Laws, Regulations & Annotations
Property Taxes Law Guide – Revision 2013
Property Tax Annotations
200.0000 BASE YEAR VALUE TRANSFER
(b) BASE YEAR VALUE TRANSFER – GOVERNMENT ACQUISITION
200.0326 Easement. Property Tax Rule 462.500 requires ownership of both the property taken and the replacement property for a taxpayer to qualify for the exclusion from change in ownership provided in Revenue and Taxation Code section 68. An easement is an interest in the land of another, which entitles the holder of the easement to limited use or enjoyment of the other's land; it is not an estate of land, and there is generally no change in ownership upon a transfer or acquisition of an easement under Revenue and Taxation Code section 60. Even if the creation or acquisition of an easement constitutes a change in ownership, for purposes of determining whether property is "taken" under section 68, if the interest taken does not represent "ownership" of the property, it would not be eligible for relief under section 68 (either as property taken, or as replacement property). Since the taxpayer retains the ownership interest in the real property subject to the easements, the easements do not qualify as "property taken" under section 68. C 4/29/2009.