Laws, Regulations & Annotations

Property Taxes Law Guide – Revision 2018

Property Tax Annotations

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850.0000 VALUE

Annotation 850.0024

850.0024 Development Impact Fee. While the payment of a development impact fee does not constitute "new construction" and should not be assessed as newly constructed property upon payment by a developer, once a developer has paid such fees and the property changes ownership, the total consideration paid by the buyer constitutes the purchase price, regardless of whether the parties agree and designate a portion of the purchase price as "reimbursement" of the fees. Moreover, if a developer agrees to pay a local agency impact fees but does not pay them prior to selling the property, the cash equivalent of the unpaid fees outstanding should be added to the balance of any other cash or cash equivalent portion of the purchased property to derive the full cash value upon the change in ownership. C 7/8/2010.