Laws, Regulations & Annotations
Property Taxes Law Guide – Revision 2017
Property Tax Annotations
710.0000 REDEVELOPMENT PROJECTS
710.0015 Valuation of Leases. A lessee of real property leased from a redevelopment agency for a specific purpose, e.g., a parking lot, should be assessed in accordance with the market value of the property based upon the lessee's restricted use. In other words, the leased property is to be appraised as if owned in fee, subject to the effect, if any, upon value of any enforceable restrictions to which the use of the property may be subjected. LTA 5/16/1977 (No. 77/73).