Laws, Regulations & Annotations

Property Taxes Law Guide – Revision 2013
 

Property Tax Annotations


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S

740.0000 SITUS

Annotation 740.0031

740.0031 Documented Vessels. When a vessel documented in California and owned by a California resident is documented elsewhere and relocated to a foreign country, the vessel will continue to be taxable in California until the owner establishes to the assessor that the vessel has acquired situs elsewhere. It is presumed that if a vessel owned by a California resident is plying the waters of this state, it is sited in California and does not have situs somewhere else. C 3/27/1998.