Laws, Regulations & Annotations

Property Taxes Law Guide – Revision 2013
 

Property Tax Annotations


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L

535.0000 LAND USE RESTRICTIONS

Annotation 535.0070

535.0070 Surplus State Residential Property. Sales of surplus state residential properties to qualified buyers at prices below current market values are subject to land use restrictions within the meaning of Revenue and Taxation Code section 402.1 where the buyers agree to encumber their respective properties by giving the selling state agencies or their designees 30 year continuing pre-emptive rights to purchase the properties. LTA 7/7/1981 (No. 81/74).