Laws, Regulations & Annotations
Property Taxes Law Guide – Revision 2014
Property Tax Annotations
500.0000 HISTORICAL PROPERTY
500.0050 Valuation. Historical properties are valued pursuant to Article 1.9 (commencing with section 439) of Chapter 3 of Part 2 of the Revenue and Taxation Code. When restrictions are cancelled or terminated by nonrenewal, the full cash value is the taxable value that would have applied to a property had it not been restricted. In most cases, this will be the 1975 base year value (appropriately factored) or a subsequent base year value (appropriately factored), should the property change ownership. The exception occurs when the current market value is less than the factored base year market value. In this instance, the current market value will be used. LTA 10/19/1979 (No. 79/187).