Laws, Regulations & Annotations

Property Taxes Law Guide – Revision 2014
 

Property Tax Annotations


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L

550.0000 LANDS OWNED BY LOCAL GOVERNMENTS THAT ARE OUTSIDE THEIR BOUNDARIES

Annotation 550.0015

550.0015 Marina Possessory Interest. The possessory interest of a private owner of a marina located on land owned by a local government that is outside the local government's boundaries and taxable to it under section 11 of article XIII of the California Constitution is taxable to the owner. However, under the provisions of section 11(f) thereof, the value attributable to the possessory interest in the land must exclude the value assessed to the local government. If the value of the highest and best use is the same as or less than the value that the local government is paying taxes on, there can be no value assessed to the owner. C 3/1/1978.