Laws, Regulations & Annotations

Property Taxes Law Guide – Revision 2013
 

Property Tax Annotations


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P

660.0000 POSSESSORY INTEREST

Annotation 660.0240

660.0240 Redevelopment Projects. Where an office building in a redevelopment project has been redeveloped and a portion is leased by the redevelopment agency to a private person or entity, Health and Safety Code section 33673 requires that the leased portion be assessed and taxed in the same manner as privately-owned property. The requirement means that the lessee shall pay taxes on the market value of the entire leasehold estate based on its highest and best use within the terms of the lease. C 4/14/1998.