Laws, Regulations & Annotations

Property Taxes Law Guide – Revision 2014
 

Property Tax Annotations


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S

790.0000 SUPPLEMENTAL ASSESSMENT

Annotation 790.0145

790.0145 Leasehold Improvements and Possessory Interests. Assuming that they are newly constructed real property and not fixtures, leasehold improvements are subject to supplemental assessment and would be placed on the supplemental roll upon completion or change in ownership. Similarly, the creation, renewal, sublease, or assignment of a taxable possessory interest after July 1, 1983, is a change in ownership requiring reappraisal and a supplemental assessment. LTA 12/16/1983 (No. 83/132).