Laws, Regulations & Annotations

Property Taxes Law Guide – Revision 2018

Property Tax Annotations

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Annotation 755.0090

755.0090 Special Franchises. Special franchises are taxable and must be valued. Since the fee ownership of the property used is in a tax-exempt government entity and the use is by a private taxable party, such franchises can be categorized as taxable possessory interests and must be valued as such. Under Deluz Homes, Inc. v. San Diego County, 45 Cal.2d 546, the full value of the right to use is taxable with only the reversion being exempt. One way to measure this value is to capitalize an economic rent for the private right to use the government property for the term of possession. C 4/18/1979.