Laws, Regulations & Annotations

Property Taxes Law Guide – Revision 2014

Property Tax Annotations

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Annotation 735.0050

735.0050 Valuation/In-Lieu Fee. Government Code section 7510 allows public retirement systems to purchase properties for investment purposes but also provides for the payments of in-lieu fees by the systems to reimburse local entities for the losses of tax revenues caused by purchases subsequent to the enactment of section 7510 in 1982.

The fee is payable if the purchased property is located within the boundary of the public retirement system, and it is calculated based on the article XIII A of the California Constitution market value of the property at the time of purchase less the value of the possessory interest assessed to the tenant.

If the purchased property is located outside the public retirement system's boundary, section 7510 is inapplicable. Such property is assessed pursuant to article XIII, section 11 of the California Constitution. C 9/23/1988.