Laws, Regulations & Annotations

Property Taxes Law Guide – Revision 2014
 

Property Tax Annotations


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T

830.0000 TIMBERLAND

Annotation 830.0009

830.0009 Base Year Value For Purposes Of Contract Nonrenewal. Timberland removed from a timberland production zone pursuant to Government Code section 51120 is valued according to the nonrenewal valuation provisions of Revenue and Taxation Code section 426. Those provisions prescribe value calculations on a yearly basis according to a prescribed formula using values, including base year values, and factors determined for each of the years of valuation. If a property changes ownership during the nonrenewal period, the new base year value established for the date of change in ownership is the correct value to use when calculating the assessed values for the remaining years of the nonrenewal period. C 6/21/2000.