Laws, Regulations & Annotations
Property Taxes Law Guide – Revision 2014
Property Tax Annotations
620.0000 OPEN-SPACE LANDS
620.0025 Valuation—Restricted and Nonrestricted Property. When a property that would usually be considered an appraisal unit includes acreage, some of which is subject to a Land Conservation Act (LCA) contract and some of which is not, it should be appraised as though it were two separate appraisal units. The restricted portion of the property should be valued by the capitalization of income method, as provided in Revenue and Taxation Code section 423, and that value enrolled when that value is less than its factored base year value or current market value. The remainder should be valued and enrolled at its factored base year value or current market value, whichever is less. C 9/20/1993.